Oppenheimer Asset Management Inc. Has $11.31 Million Stake in Graphic Packaging Holding (NYSE:GPK)

Oppenheimer Asset Management Inc. lessened its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 17.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 382,095 shares of the industrial products company’s stock after selling 79,412 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Graphic Packaging were worth $11,306,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

GPK has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Graphic Packaging from $21.00 to $24.00 and gave the company an “underweight” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their target price on Graphic Packaging from $30.00 to $36.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reduced 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. StockNews.com lowered shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, Truist Financial cut 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 note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $31.53.

Graphic Packaging Trading Down 1.6 %

NYSE GPK opened at $28.63 on Thursday. Graphic Packaging Holding has a one year low of $21.54 and a one year high of $30.70. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.73 and a quick ratio of 0.72. The business has a 50 day simple moving average of $29.26 and a 200 day simple moving average of $28.28. The stock has a market capitalization of $8.59 billion, a P/E ratio of 12.24, a P/E/G ratio of 11.31 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 net margin of 7.99% and a return on equity of 28.26%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.27 billion. During the same quarter in the previous year, the firm earned $0.74 EPS. The firm’s revenue was down 5.7% on a year-over-year basis. Research analysts expect that Graphic Packaging Holding will post 2.52 earnings per share for the current year.

Insider Activity at Graphic Packaging

In related news, EVP Michael James Farrell sold 25,900 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $28.99, for a total value of $750,841.00. Following the sale, the executive vice president now owns 81,026 shares in the company, valued at $2,348,943.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.20% of the stock is currently owned by corporate insiders.

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.