Verity Asset Management Inc. Invests $259,000 in Graphic Packaging Holding (NYSE:GPK)

Verity Asset Management Inc. bought a new position in Graphic Packaging Holding (NYSE:GPK) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 9,532 shares of the industrial products company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Graphic Packaging by 546.6% in the 3rd quarter. UMB Bank n.a. now owns 944 shares of the industrial products company’s stock worth $28,000 after buying an additional 798 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Graphic Packaging during the third quarter valued at about $30,000. Crews Bank & Trust purchased a new stake in Graphic Packaging during the fourth quarter valued at about $32,000. Avior Wealth Management LLC lifted its holdings in Graphic Packaging by 2,484.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 1,242 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Graphic Packaging during the third quarter valued at about $73,000. 99.67% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Charles D. Lischer sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $29.65, for a total value of $355,800.00. Following the transaction, the chief accounting officer now directly owns 49,849 shares in the company, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Graphic Packaging Trading Down 2.6 %

Shares of Graphic Packaging stock opened at $26.52 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 0.72 and a debt-to-equity ratio of 1.78. The company’s 50-day moving average price is $28.00 and its 200-day moving average price is $28.64. The company has a market cap of $7.96 billion, a price-to-earnings ratio of 11.33 and a beta of 0.85. Graphic Packaging Holding has a 12-month low of $23.47 and a 12-month high of $30.70.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.04). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.15 billion. Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. On average, equities analysts expect that Graphic Packaging Holding will post 2.53 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 5th. Investors of record on Sunday, December 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, December 13th. Graphic Packaging’s dividend payout ratio (DPR) is 17.09%.

Wall Street Analysts Forecast Growth

GPK has been the topic of several recent research reports. Truist Financial upped their price objective on shares of Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Citigroup reaffirmed a “neutral” rating and set a $30.00 price objective (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Royal Bank of Canada dropped their price objective on shares of Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. StockNews.com downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised shares of Graphic Packaging from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $24.00 to $27.00 in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.37.

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.