State of Michigan Retirement System increased its holdings in Graphic Packaging Holding (NYSE:GPK – Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The company owned 75,200 shares of the industrial products company after purchasing an additional 1,800 shares during the quarter. State of Michigan Retirement System’s holdings in Graphic Packaging were worth $2,194,000, according to its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently changed their holdings in the company. Principal Securities Inc. acquired a new stake in Graphic Packaging during the fourth quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in Graphic Packaging during the first quarter valued at $26,000. OLD Point Trust & Financial Services NA acquired a new stake in Graphic Packaging during the fourth quarter valued at $27,000. GAMMA Investing LLC acquired a new stake in Graphic Packaging during the fourth quarter valued at $44,000. Finally, ICA Group Wealth Management LLC acquired a new stake in Graphic Packaging during the fourth quarter valued at approximately $50,000. Institutional investors own 99.67% of the company’s stock.
Value for money for graphic packaging
NYSE:GPK shares opened at $25.67 on Friday. The company has a market cap of $7.89 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 9.53 and a beta of 0.85. The company has a 50-day moving average price of $27.34 and a 200-day moving average price of $26.70. Graphic Packaging Holding has a 52-week low of $20.07 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.52 and a current ratio of 1.24.
Graphic Packaging (NYSE:GPK – Get Free Report) last released its quarterly earnings results on Tuesday, April 30. The industrial products company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.03. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.38 billion. Graphic Packaging had a net margin of 7.36% and a return on equity of 32.55%. The company’s revenue declined 7.3% year-over-year. During the same quarter last year, the company generated earnings per share of $0.77. As a group, sell-side analysts expect Graphic Packaging Holding to report earnings per share of $2.66 for the current fiscal year.
Dividend announcement for graphic packaging
The company also recently declared a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Saturday, June 15th will receive a dividend of $0.10 per share. The ex-dividend date is Friday, June 14th. This represents an annualized dividend of $0.40 and a dividend yield of 1.56%. Graphic Packaging’s dividend payout ratio (DPR) is 18.10%.
Wall Street analysts predict growth
Several research analysts have recently commented on the company. Wells Fargo & Company reiterated an “underweight” rating and set a $21.00 price target on shares of Graphic Packaging in a research report on Monday, April 1. Citigroup increased their price target on shares of Graphic Packaging from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Thursday, April 4. Finally, StockNews.com upgraded shares of Graphic Packaging from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have a “hold” rating and five have given the company a “buy” rating. Based on data from MarketBeat, Graphic Packaging has an average rating of “moderate buy” and an average price target of $28.43.
Check out our latest research report on GPK
Graphic packaging profile
(Free report)
Graphic Packaging Holding Company, together with its subsidiaries, designs, manufactures and sells consumer packaging products to brands in the food, beverage, foodservice, household and other consumer products industries. It operates through three segments: Carton Manufacturing, Carton Packaging Americas and Carton Packaging Europe.
Further information
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