Sei Investments Co. Acquires 428,278 Shares of Graphic Packaging Holding (NYSE:GPK)

Sei Investments Co. increased its holdings in Graphic Packaging Holding (NYSE:GPK) by 33.2% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,719,878 shares of the industrial products company’s stock after purchasing an additional 428,278 shares during the period. Sei Investments Co.’s holdings in Graphic Packaging were worth $45,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AE Wealth Management LLC boosted its position in Graphic Packaging by 41.6% during the second quarter. AE Wealth Management LLC now owns 24,677 shares of the industrial products company’s stock valued at $647,000 after buying an additional 7,245 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Graphic Packaging by 1.2% in the second 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. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Graphic Packaging by 13.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 5,816 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 699 shares during the last quarter. XTX Topco Ltd purchased a new stake in Graphic Packaging during the 2nd quarter valued at about $928,000. Finally, Hsbc Holdings PLC grew its position in Graphic Packaging by 268.7% during the 2nd quarter. Hsbc Holdings PLC now owns 51,261 shares of the industrial products company’s stock worth $1,350,000 after acquiring an additional 37,358 shares during the last quarter. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Stock Down 1.3 %

Shares of Graphic Packaging stock opened at $30.11 on Monday. The company’s fifty day simple moving average is $28.81 and its two-hundred day simple moving average is $27.97. Graphic Packaging Holding has a 12-month low of $20.07 and a 12-month high of $30.66. 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 company has a market cap of $9.25 billion, a P/E ratio of 13.62, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Graphic Packaging had a net margin of 7.93% and a return on equity of 30.74%. The company had revenue of $2.24 billion for the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. Graphic Packaging’s quarterly revenue was down 6.5% on a year-over-year basis. Research analysts anticipate that Graphic Packaging Holding will post 2.66 EPS for the current year.

Graphic Packaging Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 5th. Stockholders of record on Sunday, September 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Friday, September 13th. Graphic Packaging’s payout ratio is presently 18.10%.

Insider Activity

In other Graphic Packaging news, CEO Michael P. Doss sold 86,374 shares of the 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 transaction, the chief executive officer now owns 2,123,202 shares in the company, valued at $59,555,816.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 directly owns 1,909,576 shares in the company, valued at $53,296,266.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael P. Doss sold 86,374 shares of the company’s stock in a transaction that occurred 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 owns 2,123,202 shares in the company, valued at approximately $59,555,816.10. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on GPK shares. Truist Financial reiterated a “buy” rating and issued a $35.00 price objective (up previously from $33.00) on shares of Graphic Packaging in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on shares of Graphic Packaging from $21.00 to $24.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and set a $35.00 price target on shares of Graphic Packaging in a research report on Wednesday, September 4th. Citigroup cut their price target 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. Finally, StockNews.com raised shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.15.

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.