Assetmark Inc. Buys 7,398 Shares of Graphic Packaging Holding (NYSE:GPK)

Assetmark Inc. lifted its stake in shares of Graphic Packaging Holding (NYSE:GPK) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 91,781 shares of the industrial products company’s stock after purchasing an additional 7,398 shares during the quarter. Assetmark Inc.’s holdings in Graphic Packaging were worth $2,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GPK. Howard Capital Management Group LLC raised its stake in shares of Graphic Packaging by 0.3% during the 3rd quarter. Howard Capital Management Group LLC now owns 1,007,968 shares of the industrial products company’s stock valued at $29,826,000 after purchasing an additional 2,969 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Graphic Packaging during the 3rd quarter valued at $289,000. XML Financial LLC grew its position in Graphic Packaging by 23.3% during the third quarter. XML Financial LLC now owns 20,410 shares of the industrial products company’s stock worth $604,000 after buying an additional 3,860 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Graphic Packaging during the third quarter worth about $271,000. Finally, Aptus Capital Advisors LLC grew its position in Graphic Packaging by 26.3% during the third quarter. Aptus Capital Advisors LLC now owns 169,693 shares of the industrial products company’s stock worth $5,021,000 after buying an additional 35,380 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GPK has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $24.00 to $27.00 in a research report on Monday, January 6th. Truist Financial boosted their target price on Graphic Packaging from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Monday, January 6th. Citigroup restated a “neutral” rating and set a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a research report on Monday, January 6th. Finally, Robert W. Baird reduced their target price on Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Graphic Packaging has an average rating of “Hold” and a consensus target price of $31.70.

Graphic Packaging Price Performance

GPK opened at $27.74 on Monday. The stock has a 50-day moving average price of $27.01 and a 200-day moving average price of $28.39. Graphic Packaging Holding has a 12-month low of $25.13 and a 12-month high of $30.70. The company has a current ratio of 1.46, a quick ratio of 0.54 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $8.33 billion, a P/E ratio of 12.84, a PEG ratio of 2.10 and a beta of 0.81.

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

Graphic Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be issued a dividend of $0.11 per share. The ex-dividend date is Friday, March 14th. This is a boost from Graphic Packaging’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 1.59%. Graphic Packaging’s dividend payout ratio is currently 20.37%.

Graphic Packaging 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.