Graphic Packaging Holding Company (NYSE:GPK) Director Sells $152,927.00 in Stock

Key Points

• Philip R. Martens, a director at Graphic Packaging Holding Company, sold 7,015 shares for $152,927, reducing his ownership by 20.74% while retaining 26,811 shares valued at approximately $584,479.80.
• The company recently declared a quarterly dividend of $0.11, resulting in an annualized dividend yield of 2.0% and a payout ratio of 24.86%.
• Graphic Packaging's stock price increased by 1.3%, closing at $22.25, with a consensus target price of $26.38 from various analysts.

Graphic Packaging Holding Company (NYSE:GPK - Get Free Report) Director Philip R. Martens sold 7,015 shares of the business's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $21.80, for a total value of $152,927.00. Following the completion of the transaction, the director directly owned 26,811 shares in the company, valued at $584,479.80. The trade was a 20.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Graphic Packaging Stock Up 1.3%

Shares of NYSE GPK traded up $0.29 during trading on Tuesday, hitting $22.25. 1,984,878 shares of the company traded hands, compared to its average volume of 3,053,511. The business's fifty day moving average is $22.07 and its 200 day moving average is $24.30. Graphic Packaging Holding Company has a fifty-two week low of $20.86 and a fifty-two week high of $30.70. The firm has a market capitalization of $6.59 billion, a price-to-earnings ratio of 12.57, a P/E/G ratio of 7.27 and a beta of 0.73. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.56 and a current ratio of 1.43.

Graphic Packaging (NYSE:GPK - Get Free Report) last posted its earnings results on Tuesday, July 29th. The industrial products company reported $0.42 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. Graphic Packaging had a net margin of 6.18% and a return on equity of 21.13%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.13 billion. Equities research analysts predict that Graphic Packaging Holding Company will post 2.47 earnings per share for the current fiscal year.

Graphic Packaging Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, October 5th. Shareholders of record on Monday, September 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, September 15th. Graphic Packaging's dividend payout ratio (DPR) is presently 24.86%.

Graphic Packaging announced that its board has authorized a stock buyback plan on Thursday, May 1st that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 23.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Hedge Funds Weigh In On Graphic Packaging

A number of large investors have recently added to or reduced their stakes in the business. Connable Office Inc. raised its position in Graphic Packaging by 41.1% in the 2nd quarter. Connable Office Inc. now owns 20,712 shares of the industrial products company's stock worth $436,000 after purchasing an additional 6,035 shares during the period. Bank of Montreal Can increased its position in shares of Graphic Packaging by 3.2% in the second quarter. Bank of Montreal Can now owns 67,364 shares of the industrial products company's stock valued at $1,419,000 after acquiring an additional 2,110 shares during the period. Regents Gate Capital LLP purchased a new position in shares of Graphic Packaging in the second quarter valued at about $7,898,000. State of Michigan Retirement System raised its holdings in Graphic Packaging by 1.0% in the 2nd quarter. State of Michigan Retirement System now owns 72,600 shares of the industrial products company's stock worth $1,530,000 after purchasing an additional 700 shares in the last quarter. Finally, Versor Investments LP bought a new position in Graphic Packaging in the 2nd quarter worth $274,000. Hedge funds and other institutional investors own 99.67% of the company's stock.

Wall Street Analysts Forecast Growth

GPK has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of Graphic Packaging from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Bank of America dropped their price target on Graphic Packaging from $31.00 to $28.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada dropped their price target on Graphic Packaging from $26.00 to $25.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Raymond James Financial reiterated an "outperform" rating and set a $26.00 price target (down previously from $30.00) on shares of Graphic Packaging in a report on Friday, May 2nd. Finally, BNP Paribas Exane lowered shares of Graphic Packaging from an "outperform" rating to a "neutral" rating in a report on Wednesday, June 25th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $26.38.

About Graphic Packaging

Graphic Packaging Holding Company, together with its subsidiaries, designs, produces, and sells consumer packaging products to brands in food, beverage, foodservice, household, and other consumer products. It operates through three segments: Paperboard Manufacturing, Americas Paperboard Packaging, and Europe Paperboard Packaging.

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