Assetmark Inc. Has $2.49 Million Holdings in Graphic Packaging Holding (NYSE:GPK)

Assetmark Inc. raised its position in Graphic Packaging Holding (NYSE:GPK) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 91,781 shares of the industrial products company’s stock after acquiring an additional 7,398 shares during the period. Assetmark Inc.’s holdings in Graphic Packaging were worth $2,493,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Graphic Packaging by 9.0% during the fourth quarter. Victory Capital Management Inc. now owns 836,357 shares of the industrial products company’s stock valued at $22,715,000 after buying an additional 68,956 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Graphic Packaging by 92.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock valued at $39,000 after buying an additional 689 shares during the last quarter. LGT Fund Management Co Ltd. boosted its position in shares of Graphic Packaging by 35.1% during the fourth quarter. LGT Fund Management Co Ltd. now owns 24,367 shares of the industrial products company’s stock valued at $662,000 after buying an additional 6,336 shares during the last quarter. Keynote Financial Services LLC boosted its position in shares of Graphic Packaging by 6.9% during the fourth quarter. Keynote Financial Services LLC now owns 7,607 shares of the industrial products company’s stock valued at $207,000 after buying an additional 492 shares during the last quarter. Finally, Connable Office Inc. boosted its position in shares of Graphic Packaging by 3.7% during the fourth quarter. Connable Office Inc. now owns 15,266 shares of the industrial products company’s stock valued at $415,000 after buying an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GPK has been the topic of several analyst reports. Truist Financial lifted their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $24.00 to $27.00 in a research report on Monday, January 6th. Citigroup reissued a “neutral” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Finally, Robert W. Baird cut their price objective on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.70.

Graphic Packaging Stock Up 3.9 %

GPK stock opened at $27.74 on Monday. The stock’s fifty day simple moving average is $27.01 and its two-hundred day simple moving average is $28.39. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. Graphic Packaging Holding has a 1-year low of $25.13 and a 1-year high of $30.70. The stock has a market cap of $8.33 billion, a P/E ratio of 12.84, a P/E/G ratio of 2.10 and a beta of 0.81.

Graphic Packaging (NYSE:GPK) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.04). The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a net margin of 7.47% and a return on equity of 25.96%. The business’s quarterly revenue was down 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. Analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Shareholders of record on Saturday, March 15th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a dividend yield of 1.59%. Graphic Packaging’s payout ratio is presently 20.37%.

Graphic Packaging Company Profile

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.