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

Graphic Packaging Holding Company (NYSE:GPK)’s stock price gapped up prior to trading on Thursday after an insider bought additional shares in the company. 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 company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average cost of $11.32 per share, with a total value of $501,226.96. Following the purchase, the chief executive officer owned 44,278 shares in the company, valued at $501,226.96. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Robert W. Baird set a $15.00 price objective on Graphic Packaging in a report on Wednesday, February 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Graphic Packaging in a research note on Monday, December 29th. Citigroup dropped 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 note on Thursday, February 5th. Zacks Research downgraded shares of Graphic Packaging from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 14th. Finally, Royal Bank Of Canada set a $13.00 target price on shares of Graphic Packaging in a report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $16.63.

Graphic Packaging Price Performance

The company has a market capitalization of $3.29 billion, a P/E ratio of 7.52 and a beta of 0.65. The business’s 50-day moving average is $13.93 and its two-hundred day moving average is $16.61. The company has a quick ratio of 0.52, a current ratio of 1.30 and a debt-to-equity ratio of 1.50.

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

Graphic Packaging Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Sunday, March 15th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.44 annualized dividend and a yield of 4.0%. Graphic Packaging’s payout ratio is currently 29.73%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. raised its stake in shares of Graphic Packaging by 130.7% during the 2nd quarter. Bessemer Group Inc. now owns 1,382 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 783 shares during the period. Quarry LP raised its position in Graphic Packaging by 282.0% in the third quarter. Quarry LP now owns 1,547 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,142 shares during the period. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Graphic Packaging in the third quarter valued at about $31,000. Hantz Financial Services Inc. boosted its stake in Graphic Packaging by 1,356.1% in the second quarter. Hantz Financial Services Inc. now owns 1,791 shares of the industrial products company’s stock valued at $38,000 after acquiring an additional 1,668 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Graphic Packaging by 13,971.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,956 shares during the period. Institutional investors own 99.67% of the company’s stock.

About Graphic Packaging

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.