abrdn plc Has $51.48 Million Stake in Graphic Packaging Holding (NYSE:GPK)

abrdn plc lowered its position in Graphic Packaging Holding (NYSE:GPK) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,739,663 shares of the industrial products company’s stock after selling 75,914 shares during the period. abrdn plc owned 0.57% of Graphic Packaging worth $51,477,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Graphic Packaging by 24.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 14,800,425 shares of the industrial products company’s stock worth $437,945,000 after purchasing an additional 2,927,344 shares during the last quarter. American Century Companies Inc. increased its position in Graphic Packaging by 41.9% during the second quarter. American Century Companies Inc. now owns 12,115,566 shares of the industrial products company’s stock worth $317,549,000 after buying an additional 3,576,877 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Graphic Packaging by 7.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 9,600,600 shares of the industrial products company’s stock valued at $251,632,000 after buying an additional 706,486 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Graphic Packaging by 6.4% during the second quarter. Dimensional Fund Advisors LP now owns 6,054,530 shares of the industrial products company’s stock valued at $158,693,000 after buying an additional 362,509 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its position in shares of Graphic Packaging by 9.7% in the second quarter. Thompson Siegel & Walmsley LLC now owns 3,093,537 shares of the industrial products company’s stock worth $81,082,000 after buying an additional 274,449 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Insider Transactions at Graphic Packaging

In related news, CEO Michael P. Doss sold 49,183 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $27.91, for a total value of $1,372,697.53. Following the sale, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $28.05, for a total transaction of $2,422,790.70. Following the sale, the chief executive officer now directly owns 2,123,202 shares of the company’s stock, valued at approximately $59,555,816.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $27.91, for a total transaction of $1,372,697.53. Following the completion of the transaction, the chief executive officer now owns 1,909,576 shares of the company’s stock, valued at $53,296,266.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

GPK has been the topic of several analyst reports. Royal Bank of Canada lowered their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup dropped their target price on shares of Graphic Packaging from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Truist Financial decreased their price target on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their target price on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.87.

Graphic Packaging Stock Down 5.6 %

GPK stock opened at $28.67 on Wednesday. Graphic Packaging Holding has a twelve month low of $20.82 and a twelve month high of $30.70. The company has a quick ratio of 0.58, a current ratio of 1.45 and a debt-to-equity ratio of 1.75. The company has a market cap of $8.81 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 10.94 and a beta of 0.83. The business’s 50-day simple moving average is $29.41 and its 200 day simple moving average is $28.18.

Graphic Packaging (NYSE:GPK) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The business had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. Graphic Packaging had a return on equity of 30.74% and a net margin of 7.93%. Graphic Packaging’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. On average, research analysts anticipate that Graphic Packaging Holding will post 2.65 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Friday, September 13th. Graphic Packaging’s dividend payout ratio is 18.10%.

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.