Silvercrest Asset Management Group LLC Sells 126,386 Shares of Graphic Packaging Holding (NYSE:GPK)

Silvercrest Asset Management Group LLC trimmed its stake in Graphic Packaging Holding (NYSE:GPK) by 18.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 574,201 shares of the industrial products company’s stock after selling 126,386 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.19% of Graphic Packaging worth $16,755,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Graphic Packaging by 102.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,983,556 shares of the industrial products company’s stock worth $291,320,000 after acquiring an additional 5,055,359 shares during the period. Norges Bank bought a new stake in Graphic Packaging in the 4th quarter worth about $100,387,000. Massachusetts Financial Services Co. MA increased its holdings in Graphic Packaging by 14.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,951,542 shares of the industrial products company’s stock worth $220,656,000 after buying an additional 1,134,410 shares in the last quarter. L1 Capital International Pty Ltd bought a new stake in Graphic Packaging in the 4th quarter worth about $16,039,000. Finally, Greenlight Capital Inc. grew its stake in shares of Graphic Packaging by 32.0% during the 4th quarter. Greenlight Capital Inc. now owns 2,536,100 shares of the industrial products company’s stock valued at $62,515,000 after purchasing an additional 614,490 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Trading Up 3.9 %

Shares of NYSE GPK traded up $1.09 during trading hours on Tuesday, hitting $29.10. 4,333,354 shares of the company traded hands, compared to its average volume of 2,681,625. The stock has a market capitalization of $8.94 billion, a price-to-earnings ratio of 13.37, a price-to-earnings-growth ratio of 10.15 and a beta of 0.85. The company has a current ratio of 1.24, a quick ratio of 0.52 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average price is $27.24 and its 200 day moving average price is $26.98. Graphic Packaging Holding has a 12 month low of $20.07 and a 12 month high of $29.74.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.38 billion. Graphic Packaging had a return on equity of 32.55% and a net margin of 7.36%. Graphic Packaging’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. On average, equities research analysts anticipate that Graphic Packaging Holding will post 2.69 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Saturday, June 15th were paid a $0.10 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. Graphic Packaging’s payout ratio is 18.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on GPK shares. Wells Fargo & Company reaffirmed an “underweight” rating and set a $21.00 price objective on shares of Graphic Packaging in a research report on Monday, April 1st. StockNews.com cut Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Truist Financial lifted their price objective on Graphic Packaging from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Citigroup lowered their price target on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, Stifel Nicolaus began coverage on Graphic Packaging in a report on Tuesday, July 9th. They issued a “buy” rating and a $35.20 price target on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Graphic Packaging has an average rating of “Hold” and an average target price of $29.03.

About Graphic Packaging

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.