Graphic Packaging (NYSE:GPK) Shares Gap Up Following Insider Buying Activity

Graphic Packaging Holding Company (NYSE:GPK) shares gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $11.19, but opened at $11.92. Graphic Packaging shares last traded at $11.18, with a volume of 2,236,818 shares changing hands.

Specifically, CEO Robbert Rietbroek purchased 44,278 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average price of $11.32 per share, with a total value of $501,226.96. Following the acquisition, the chief executive officer owned 44,278 shares in the company, valued at approximately $501,226.96. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Robert W. Baird set a $15.00 price target on Graphic Packaging in a research report on Wednesday, February 4th. Royal Bank Of Canada set a $13.00 target price on shares of Graphic Packaging in a report on Wednesday, February 4th. Citigroup reduced their price objective on shares of Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. UBS Group dropped their target price on Graphic Packaging from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, Zacks Research cut Graphic Packaging from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 14th. Eight investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $16.63.

Graphic Packaging Trading Down 0.1%

The firm has a market capitalization of $3.30 billion, a P/E ratio of 7.55 and a beta of 0.65. The stock has a 50-day simple moving average of $14.01 and a two-hundred day simple moving average of $16.64. The company has a current ratio of 1.30, a quick ratio of 0.52 and a debt-to-equity ratio of 1.50.

Graphic Packaging (NYSE:GPK) last announced its quarterly earnings results on Monday, March 2nd. The industrial products company reported $0.24 EPS for the quarter. Graphic Packaging had a return on equity of 16.58% and a net margin of 5.15%.The firm had revenue of $2.10 billion for the quarter. On average, equities research analysts anticipate that Graphic Packaging Holding Company will post 2.47 earnings per share for the current year.

Graphic Packaging Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Sunday, March 15th will be issued a $0.11 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.44 annualized dividend and a dividend yield of 3.9%. Graphic Packaging’s payout ratio is currently 29.73%.

Hedge Funds Weigh In On Graphic Packaging

A number of hedge funds and other institutional investors have recently modified their holdings of GPK. Allspring Global Investments Holdings LLC lifted its stake in Graphic Packaging by 8.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 19,138,977 shares of the industrial products company’s stock valued at $374,550,000 after acquiring an additional 1,502,681 shares during the period. Texas Permanent School Fund Corp lifted its position in Graphic Packaging by 48.0% during the second quarter. Texas Permanent School Fund Corp now owns 234,885 shares of the industrial products company’s stock valued at $4,949,000 after purchasing an additional 76,226 shares during the period. Royce & Associates LP boosted its holdings in Graphic Packaging by 15.6% in the third quarter. Royce & Associates LP now owns 1,244,210 shares of the industrial products company’s stock valued at $24,349,000 after purchasing an additional 167,623 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Graphic Packaging in the third quarter valued at $2,683,000. Finally, Barings LLC grew its position in Graphic Packaging by 63.8% during the 2nd quarter. Barings LLC now owns 83,412 shares of the industrial products company’s stock worth $1,757,000 after purchasing an additional 32,503 shares during the period. 99.67% of the stock is currently owned by institutional investors.

Graphic Packaging Company Profile

Graphic Packaging Holding Company is a leading provider of sustainable paperboard packaging solutions, offering a broad portfolio of products designed for food, beverage and other consumer goods markets. The company specializes in the manufacture of containerboard, folding cartons and engineered fill materials, as well as beverage packaging systems including paperboard cups, carriers and related components.

Through a network of manufacturing facilities across North America, Europe and Latin America, Graphic Packaging serves a diverse customer base that includes major consumer packaged goods companies, quick-service restaurants and retail chains.