Rhumbline Advisers increased its stake in Graphic Packaging Holding (NYSE:GPK – Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 377,287 shares of the industrial products company’s stock after buying an additional 26,904 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Graphic Packaging worth $9,617,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in GPK. Private Advisor Group LLC bought a new position in Graphic Packaging during the 1st quarter worth $519,000. MetLife Investment Management LLC acquired a new stake in Graphic Packaging in the first quarter valued at about $184,000. BlackRock Inc. boosted its stake in Graphic Packaging by 2.6% in the first quarter. BlackRock Inc. now owns 15,105,236 shares of the industrial products company’s stock valued at $302,709,000 after buying an additional 377,055 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Graphic Packaging by 3.2% in the first quarter. Great West Life Assurance Co. Can now owns 25,660 shares of the industrial products company’s stock valued at $547,000 after buying an additional 792 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its stake in Graphic Packaging by 9.0% in the first 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 in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Wells Fargo & Company reduced their price objective on Graphic Packaging from $28.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 2nd. 888 reissued a “downgrade” rating on shares of Graphic Packaging in a research note on Thursday, June 29th. StockNews.com assumed coverage on Graphic Packaging in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Bank of America lowered Graphic Packaging from a “buy” rating to a “neutral” rating and cut their price target for the company from $35.00 to $29.00 in a research note on Monday, July 10th. Finally, Citigroup cut their price target on Graphic Packaging from $30.00 to $28.00 in a research note on Monday, July 10th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.44.
Graphic Packaging Trading Up 1.1 %
Shares of GPK stock opened at $22.49 on Monday. The company has a market cap of $6.91 billion, a P/E ratio of 9.86, a PEG ratio of 0.31 and a beta of 0.98. The stock has a 50 day simple moving average of $23.24 and a two-hundred day simple moving average of $24.26. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.55 and a current ratio of 1.36. Graphic Packaging Holding has a fifty-two week low of $19.46 and a fifty-two week high of $27.56.
Graphic Packaging (NYSE:GPK – Get Free Report) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.49 billion. Graphic Packaging had a return on equity of 37.35% and a net margin of 7.30%. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Research analysts forecast that Graphic Packaging Holding will post 2.84 earnings per share for the current year.
Graphic Packaging Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. Graphic Packaging’s dividend payout ratio is 17.54%.
Graphic Packaging Profile
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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