Graphic Packaging Holding (NYSE:GPK – Get Rating) announced a quarterly dividend on Thursday, September 22nd, Zacks reports. Investors of record on Thursday, December 15th will be paid a dividend of 0.10 per share by the industrial products company on Thursday, January 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend is Wednesday, December 14th. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.08.
Graphic Packaging has a payout ratio of 12.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Graphic Packaging to earn $2.44 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 12.3%.
Graphic Packaging Stock Performance
Shares of NYSE:GPK traded down $0.36 during trading on Friday, reaching $20.44. 11,065 shares of the company’s stock traded hands, compared to its average volume of 2,475,017. The company has a debt-to-equity ratio of 2.91, a current ratio of 1.34 and a quick ratio of 0.57. Graphic Packaging has a 12 month low of $17.63 and a 12 month high of $24.07. The company has a 50 day moving average of $22.39 and a 200-day moving average of $21.36. The stock has a market capitalization of $6.29 billion, a P/E ratio of 22.37, a price-to-earnings-growth ratio of 0.38 and a beta of 0.94.
Insider Buying and Selling
In related news, EVP Michael James Farrell sold 12,779 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $23.35, for a total value of $298,389.65. Following the sale, the executive vice president now directly owns 44,902 shares in the company, valued at approximately $1,048,461.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Michael James Farrell sold 12,779 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $23.35, for a total transaction of $298,389.65. Following the sale, the executive vice president now owns 44,902 shares in the company, valued at $1,048,461.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jean Francois Roche sold 46,898 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $22.50, for a total transaction of $1,055,205.00. Following the sale, the senior vice president now owns 84 shares in the company, valued at approximately $1,890. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.
Institutional Investors Weigh In On Graphic Packaging
A number of large investors have recently made changes to their positions in GPK. American International Group Inc. raised its holdings in shares of Graphic Packaging by 21.6% during the second quarter. American International Group Inc. now owns 4,414 shares of the industrial products company’s stock valued at $90,000 after acquiring an additional 783 shares during the period. Covestor Ltd increased its stake in Graphic Packaging by 125.1% in the 1st quarter. Covestor Ltd now owns 8,043 shares of the industrial products company’s stock valued at $161,000 after buying an additional 4,470 shares during the period. MetLife Investment Management LLC acquired a new position in Graphic Packaging in the 1st quarter valued at approximately $184,000. Captrust Financial Advisors increased its stake in Graphic Packaging by 5.8% in the 2nd quarter. Captrust Financial Advisors now owns 11,071 shares of the industrial products company’s stock valued at $228,000 after buying an additional 606 shares during the period. Finally, Yousif Capital Management LLC increased its stake in Graphic Packaging by 9.0% in the 1st quarter. Yousif Capital Management LLC now owns 11,619 shares of the industrial products company’s stock valued at $233,000 after buying an additional 955 shares during the period. Institutional investors and hedge funds own 90.48% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Graphic Packaging from $25.00 to $27.00 in a research note on Wednesday, July 27th. Citigroup upped their price target on shares of Graphic Packaging to $27.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, BMO Capital Markets raised shares of Graphic Packaging from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $20.00 to $25.00 in a research note on Friday, May 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.81.
About Graphic Packaging
Graphic Packaging Holding Company, together with its subsidiaries, provides fiber-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging products, such as folding cartons, cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies; and barrier packaging products that protect against moisture, hot and cold temperature, grease, oil, oxygen, sunlight, insects, and other potential product-damaging factors.
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