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

Graphic Packaging Holding Company (NYSE:GPK)’s share price gapped up before the market opened 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.

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GPK. Truist Financial set a $14.00 price objective on shares of Graphic Packaging in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of Graphic Packaging in a report on Monday, December 29th. Citigroup cut their price objective on Graphic Packaging from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Wells Fargo & Company reduced their price objective on Graphic Packaging from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 4th. Finally, Robert W. Baird set a $15.00 target price on Graphic Packaging in a research report on Wednesday, February 4th. Eight equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $16.63.

Graphic Packaging Trading Down 0.1%

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

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

Graphic Packaging Announces Dividend

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

Institutional Investors Weigh In On Graphic Packaging

A number of institutional investors have recently added to or reduced their stakes in GPK. Bessemer Group Inc. increased its holdings in shares of Graphic Packaging by 130.7% in the second 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 last quarter. Quarry LP increased its stake in Graphic Packaging by 282.0% in the 3rd 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 last quarter. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Graphic Packaging during the 3rd quarter worth approximately $31,000. Hantz Financial Services Inc. boosted its position in shares of Graphic Packaging by 1,356.1% during the 2nd 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 holdings in shares of Graphic Packaging by 13,971.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,970 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,956 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.

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.