Amalgamated Bank Cuts Holdings in Graphic Packaging Holding (NYSE:GPK)

Amalgamated Bank trimmed its position in Graphic Packaging Holding (NYSE:GPK) by 8.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 192,026 shares of the industrial products company’s stock after selling 18,267 shares during the period. Amalgamated Bank’s holdings in Graphic Packaging were worth $5,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in Graphic Packaging in the 1st quarter valued at $26,000. Principal Securities Inc. bought a new position in shares of Graphic Packaging during the 4th quarter valued at approximately $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Graphic Packaging in the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new position in Graphic Packaging in the first quarter valued at approximately $38,000. Finally, GAMMA Investing LLC grew its holdings in Graphic Packaging by 46.3% during the second quarter. GAMMA Investing LLC now owns 2,744 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 868 shares during the period. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on GPK shares. Wells Fargo & Company boosted their price objective on Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Truist Financial reissued a “buy” rating and set a $35.00 target price (up previously from $33.00) on shares of Graphic Packaging in a report on Wednesday, July 31st. Citigroup cut their target price on Graphic Packaging from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $35.00 target price on shares of Graphic Packaging in a report on Wednesday, September 4th. Finally, Stifel Nicolaus began coverage on shares of 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, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $31.15.

Insiders Place Their Bets

In related news, CEO Michael P. Doss sold 86,374 shares of Graphic Packaging stock in a transaction that occurred on Wednesday, August 7th. The stock was 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 in the company, valued at $59,555,816.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Graphic Packaging news, CEO Michael P. Doss sold 49,183 shares of Graphic Packaging stock in a transaction on Friday, August 9th. The stock was 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 in the company, valued at $53,296,266.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael P. Doss sold 86,374 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 2,123,202 shares in the company, valued at $59,555,816.10. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Graphic Packaging Stock Down 1.3 %

Shares of NYSE:GPK opened at $30.11 on Friday. Graphic Packaging Holding has a 1 year low of $20.07 and a 1 year high of $30.66. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.45 and a quick ratio of 0.58. The stock’s 50-day moving average is $28.81 and its 200 day moving average is $27.95. The company has a market cap of $9.25 billion, a PE ratio of 13.62, a P/E/G ratio of 5.12 and a beta of 0.83.

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

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 5th. Shareholders of record on Sunday, September 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.40 annualized dividend and a yield of 1.33%. Graphic Packaging’s 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.