OLD National Bancorp IN Has $463,000 Stake in Graphic Packaging Holding (NYSE:GPK)

OLD National Bancorp IN increased its stake in Graphic Packaging Holding (NYSE:GPK) by 15.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,635 shares of the industrial products company’s stock after purchasing an additional 2,048 shares during the quarter. OLD National Bancorp IN’s holdings in Graphic Packaging were worth $463,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its holdings in Graphic Packaging by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 32,827 shares of the industrial products company’s stock worth $860,000 after acquiring an additional 369 shares during the period. Graypoint LLC lifted its position in shares of Graphic Packaging by 2.4% during the 2nd quarter. Graypoint LLC now owns 17,473 shares of the industrial products company’s stock worth $458,000 after purchasing an additional 402 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Graphic Packaging by 0.8% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 54,259 shares of the industrial products company’s stock valued at $1,422,000 after purchasing an additional 406 shares during the period. Fiduciary Family Office LLC grew its holdings in Graphic Packaging by 2.6% in the 2nd quarter. Fiduciary Family Office LLC now owns 16,811 shares of the industrial products company’s stock valued at $441,000 after buying an additional 423 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Graphic Packaging by 1.2% in the 2nd quarter. Benjamin Edwards Inc. now owns 42,857 shares of the industrial products company’s stock worth $1,123,000 after buying an additional 497 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insiders Place Their Bets

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

Graphic Packaging Trading Down 1.0 %

Shares of GPK opened at $29.54 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 0.58 and a debt-to-equity ratio of 1.75. The stock has a market cap of $9.08 billion, a PE ratio of 13.36, a PEG ratio of 5.08 and a beta of 0.83. Graphic Packaging Holding has a 1 year low of $20.07 and a 1 year high of $30.66. The stock has a 50 day simple moving average of $29.29 and a 200-day simple moving average of $28.15.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.27 billion. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The firm’s quarterly revenue was down 6.5% on a year-over-year basis. During the same period last year, the firm posted $0.66 EPS. On average, sell-side analysts predict that Graphic Packaging Holding will post 2.66 EPS for the current fiscal year.

Graphic Packaging Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, October 5th. Investors of record on Sunday, September 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.35%. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.

Wall Street Analyst Weigh In

GPK has been the topic of several research analyst reports. Robert W. Baird raised their price objective on shares of Graphic Packaging from $30.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Truist Financial dropped their price objective on shares of Graphic Packaging from $35.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Stifel Nicolaus started coverage on shares of Graphic Packaging in a research note on Tuesday, July 9th. They issued a “buy” rating and a $35.20 target price for the company. Royal Bank of Canada cut their price target on Graphic Packaging from $35.00 to $34.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.87.

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.