Allspring Global Investments Holdings LLC Acquires 373,624 Shares of Graphic Packaging Holding Company $GPK

Allspring Global Investments Holdings LLC raised its stake in shares of Graphic Packaging Holding Company (NYSE:GPK) by 2.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,512,601 shares of the industrial products company’s stock after purchasing an additional 373,624 shares during the period. Allspring Global Investments Holdings LLC owned approximately 6.61% of Graphic Packaging worth $295,616,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its stake in Graphic Packaging by 282.0% during the 3rd quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,142 shares in the last quarter. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Graphic Packaging during the third quarter valued at about $31,000. Operose Advisors LLC purchased a new position in Graphic Packaging during the second quarter worth about $42,000. MassMutual Private Wealth & Trust FSB boosted its holdings in Graphic Packaging by 649.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,039 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 1,767 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Graphic Packaging by 65.2% in the 3rd quarter. Global Retirement Partners LLC now owns 2,291 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 904 shares in the last quarter. 99.67% of the stock is owned by institutional investors.

Insider Transactions at Graphic Packaging

In related news, CEO Robbert Rietbroek acquired 44,278 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average cost of $11.32 per share, for a total transaction of $501,226.96. Following the acquisition, the chief executive officer owned 44,278 shares of the company’s stock, valued at $501,226.96. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.41% of the company’s stock.

Graphic Packaging Stock Up 1.8%

Shares of NYSE:GPK opened at $9.40 on Tuesday. The stock’s 50-day moving average is $12.01 and its 200 day moving average is $15.07. The company has a market cap of $2.78 billion, a PE ratio of 6.35 and a beta of 0.65. The company has a debt-to-equity ratio of 1.50, a current ratio of 1.30 and a quick ratio of 0.52. Graphic Packaging Holding Company has a 1 year low of $8.78 and a 1 year high of $26.40.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data on Monday, March 2nd. The industrial products company reported $0.24 earnings per share for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The business had revenue of $2.10 billion during the quarter. Sell-side analysts anticipate that Graphic Packaging Holding Company will post 2.47 EPS for the current year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Sunday, March 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.44 annualized dividend and a yield of 4.7%. Graphic Packaging’s payout ratio is 29.73%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Graphic Packaging from $11.00 to $9.00 and set an “underweight” rating for the company in a report on Friday, March 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Graphic Packaging in a research note on Friday. Robert W. Baird set a $15.00 price target on shares of Graphic Packaging in a report on Wednesday, February 4th. UBS Group dropped their target price on shares of Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Royal Bank Of Canada cut their target price on shares of Graphic Packaging from $13.00 to $10.00 and set a “sector perform” rating for the company in a research report on Friday, March 20th. Eight research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $16.00.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.