Graphic Packaging Holding Company $GPK Shares Purchased by Connable Office Inc.

Connable Office Inc. increased its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 41.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,712 shares of the industrial products company’s stock after purchasing an additional 6,035 shares during the quarter. Connable Office Inc.’s holdings in Graphic Packaging were worth $436,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Graphic Packaging by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 30,655,111 shares of the industrial products company’s stock worth $795,807,000 after purchasing an additional 929,764 shares during the last quarter. American Century Companies Inc. grew its position in Graphic Packaging by 11.7% in the 1st quarter. American Century Companies Inc. now owns 18,488,501 shares of the industrial products company’s stock valued at $479,962,000 after acquiring an additional 1,932,841 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Graphic Packaging by 7.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 17,636,296 shares of the industrial products company’s stock valued at $385,353,000 after acquiring an additional 1,264,922 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Graphic Packaging by 8.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,351,192 shares of the industrial products company’s stock valued at $268,717,000 after acquiring an additional 781,509 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Graphic Packaging by 1,004.9% in the 1st quarter. Victory Capital Management Inc. now owns 9,240,697 shares of the industrial products company’s stock valued at $239,888,000 after acquiring an additional 8,404,340 shares in the last quarter. 99.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GPK shares. Raymond James Financial downgraded Graphic Packaging from an “outperform” rating to a “market perform” rating in a research report on Friday, October 17th. Citigroup dropped their target price on Graphic Packaging from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Bank of America reaffirmed a “neutral” rating and issued a $24.00 target price on shares of Graphic Packaging in a research report on Thursday, October 9th. Royal Bank Of Canada downgraded Graphic Packaging from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from $25.00 to $21.00 in a research report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Graphic Packaging in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $23.00.

Insiders Place Their Bets

In related news, EVP Joseph P. Yost sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $22.72, for a total transaction of $681,600.00. Following the completion of the sale, the executive vice president owned 255,203 shares in the company, valued at $5,798,212.16. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.41% of the stock is currently owned by insiders.

Graphic Packaging Stock Performance

Shares of GPK opened at $15.66 on Tuesday. The stock has a 50-day simple moving average of $19.20 and a 200-day simple moving average of $21.39. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.56 and a current ratio of 1.43. The stock has a market capitalization of $4.64 billion, a PE ratio of 8.84 and a beta of 0.74. Graphic Packaging Holding Company has a 1 year low of $15.64 and a 1 year high of $30.49.

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.