Graphic Packaging Holding Company (NYSE:GPK) Posts Quarterly Earnings Results, Meets Expectations
Graphic Packaging Holding Company (NYSE:GPK) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.15, Morningstar.com reports. Graphic Packaging Holding had a net margin of 4.80% and a return on equity of 19.53%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue was down .8% compared to the same quarter last year.
Graphic Packaging Holding (GPK) opened at 13.77 on Tuesday. The company has a market cap of $4.28 billion, a P/E ratio of 21.15 and a beta of 1.15. The company has a 50-day moving average of $13.52 and a 200-day moving average of $13.28. Graphic Packaging Holding has a 52-week low of $12.00 and a 52-week high of $14.70.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Investors of record on Thursday, June 15th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date was Tuesday, June 13th. Graphic Packaging Holding’s dividend payout ratio (DPR) is currently 46.15%.
GPK has been the subject of several research reports. Zacks Investment Research downgraded shares of Graphic Packaging Holding from a “hold” rating to a “sell” rating in a research report on Wednesday, April 5th. Royal Bank Of Canada reissued a “buy” rating and set a $15.00 price objective on shares of Graphic Packaging Holding in a research report on Tuesday, April 11th. Citigroup Inc. reissued a “buy” rating on shares of Graphic Packaging Holding in a research report on Friday, April 14th. Jefferies Group LLC reissued a “hold” rating and set a $14.00 price objective on shares of Graphic Packaging Holding in a research report on Monday, May 8th. Finally, BMO Capital Markets reissued a “buy” rating and set a $15.50 price objective on shares of Graphic Packaging Holding in a research report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $15.76.
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In other Graphic Packaging Holding news, Director G Andrea Botta sold 10,982 shares of the company’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $13.45, for a total transaction of $147,707.90. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its position in Graphic Packaging Holding by 1.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 8,039 shares of the industrial products company’s stock valued at $103,000 after buying an additional 116 shares during the last quarter. Fifth Third Bancorp raised its stake in Graphic Packaging Holding by 124.0% in the first quarter. Fifth Third Bancorp now owns 10,082 shares of the industrial products company’s stock valued at $130,000 after buying an additional 5,582 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Graphic Packaging Holding during the first quarter valued at about $104,000. Eagle Boston Investment Management Inc. purchased a new stake in Graphic Packaging Holding during the first quarter valued at about $136,000. Finally, Envestnet Asset Management Inc. raised its stake in Graphic Packaging Holding by 14.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 10,729 shares of the industrial products company’s stock valued at $133,000 after buying an additional 1,348 shares during the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.
About Graphic Packaging Holding
Graphic Packaging Holding Company is a provider of paper-based packaging solutions for a range of products to food, beverage and other consumer product companies. The Company’s segments include Paperboard Mills, Americas Paperboard Packaging, Europe Paperboard Packaging, and Corporate and Other. The Paperboard Mills segment includes the Company’s North American paperboard mills, which produce primarily coated unbleached kraft and coated recycled board.
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