Schroder Investment Management Group raised its position in shares of Graphic Packaging Holding (NYSE:GPK) by 3.2% in the third quarter, HoldingsChannel.com reports. The firm owned 6,625,398 shares of the industrial products company’s stock after acquiring an additional 202,702 shares during the period. Schroder Investment Management Group’s holdings in Graphic Packaging were worth $92,822,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the business. Boston Partners raised its position in shares of Graphic Packaging by 7.1% during the 2nd quarter. Boston Partners now owns 26,173,868 shares of the industrial products company’s stock worth $379,783,000 after buying an additional 1,739,382 shares in the last quarter. American Century Companies Inc. raised its position in shares of Graphic Packaging by 1.9% during the 3rd quarter. American Century Companies Inc. now owns 16,244,816 shares of the industrial products company’s stock worth $227,590,000 after buying an additional 303,194 shares in the last quarter. Canyon Capital Advisors LLC raised its position in shares of Graphic Packaging by 16.4% during the 2nd quarter. Canyon Capital Advisors LLC now owns 15,492,281 shares of the industrial products company’s stock worth $224,793,000 after buying an additional 2,184,061 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Graphic Packaging by 25.5% during the 3rd quarter. Janus Henderson Group PLC now owns 12,362,580 shares of the industrial products company’s stock worth $173,200,000 after buying an additional 2,513,458 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Graphic Packaging by 1.4% during the 3rd quarter. Alliancebernstein L.P. now owns 8,168,199 shares of the industrial products company’s stock worth $114,436,000 after buying an additional 115,192 shares in the last quarter.
In other Graphic Packaging news, Director Larry M. Venturelli bought 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 25th. The shares were acquired at an average cost of $10.59 per share, for a total transaction of $264,750.00. Following the acquisition, the director now directly owns 47,993 shares of the company’s stock, valued at $508,245.87. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.62% of the stock is owned by insiders.
Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, October 23rd. The industrial products company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.02). Graphic Packaging had a return on equity of 11.90% and a net margin of 6.18%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. On average, research analysts expect that Graphic Packaging Holding will post 0.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 5th. Investors of record on Saturday, December 15th will be issued a $0.075 dividend. The ex-dividend date is Thursday, December 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.55%. Graphic Packaging’s payout ratio is currently 47.62%.
A number of analysts have commented on GPK shares. ValuEngine downgraded shares of Graphic Packaging from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, October 16th. BMO Capital Markets dropped their target price on shares of Graphic Packaging from $18.00 to $16.00 and set an “outperform” rating on the stock in a report on Thursday, October 25th. Deutsche Bank set a $15.00 target price on shares of Graphic Packaging and gave the stock a “buy” rating in a report on Wednesday, October 24th. Finally, Vertical Research set a $18.00 target price on shares of Graphic Packaging and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $16.94.
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Graphic Packaging Company Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK) and coated recycled paperboard (CRB) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons primarily to consumer packaged goods companies.
Further Reading: What are the Different Types of Leveraged Buyouts?
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