Teachers Retirement System of The State of Kentucky Sells 2,690 Shares of Graphic Packaging Holding (NYSE:GPK)

Teachers Retirement System of The State of Kentucky decreased its holdings in Graphic Packaging Holding (NYSE:GPK) by 2.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 97,353 shares of the industrial products company’s stock after selling 2,690 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Graphic Packaging were worth $2,881,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. UMB Bank n.a. lifted its holdings in shares of Graphic Packaging by 546.6% in the third quarter. UMB Bank n.a. now owns 944 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 798 shares in the last quarter. Truvestments Capital LLC bought a new position in Graphic Packaging during the 3rd quarter valued at $30,000. Atlas Capital Advisors LLC purchased a new position in Graphic Packaging during the 2nd quarter worth $88,000. GAMMA Investing LLC grew its stake in shares of Graphic Packaging by 57.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,308 shares of the industrial products company’s stock worth $127,000 after acquiring an additional 1,564 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Graphic Packaging by 13.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 5,816 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 699 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Charles D. Lischer sold 12,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.65, for a total transaction of $355,800.00. Following the sale, the chief accounting officer now owns 49,849 shares of the company’s stock, valued at approximately $1,478,022.85. This represents a 19.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael James Farrell sold 25,900 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $28.99, for a total value of $750,841.00. Following the completion of the transaction, the executive vice president now owns 81,026 shares of the company’s stock, valued at approximately $2,348,943.74. This represents a 24.22 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GPK shares. Truist Financial downgraded shares of Graphic Packaging from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $30.00 in a research report on Wednesday, October 30th. StockNews.com lowered Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada dropped 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Graphic Packaging presently has a consensus rating of “Hold” and an average target price of $31.53.

Graphic Packaging Trading Down 0.2 %

Shares of GPK stock opened at $29.37 on Friday. Graphic Packaging Holding has a 12-month low of $23.47 and a 12-month high of $30.70. The company has a quick ratio of 0.72, a current ratio of 1.73 and a debt-to-equity ratio of 1.78. The company has a 50 day moving average of $29.22 and a 200-day moving average of $28.56. The firm has a market cap of $8.82 billion, a P/E ratio of 12.55, a PEG ratio of 11.42 and a beta of 0.83.

Graphic Packaging (NYSE:GPK) last released its earnings results on Tuesday, October 29th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). Graphic Packaging had a return on equity of 28.26% and a net margin of 7.99%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Graphic Packaging Holding will post 2.52 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Shareholders of record on Sunday, December 15th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, December 13th. Graphic Packaging’s dividend payout ratio (DPR) is presently 17.09%.

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.