Graphic Packaging Holding Company (NYSE:GPK) declared a quarterly dividend on Friday, November 17th, Wall Street Journal reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.075 per share by the industrial products company on Friday, January 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Thursday, December 14th.
Graphic Packaging has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Graphic Packaging to earn $0.85 per share next year, which means the company should continue to be able to cover its $0.30 annual dividend with an expected future payout ratio of 35.3%.
Shares of Graphic Packaging (GPK) opened at $15.40 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 1.50 and a quick ratio of 0.74. Graphic Packaging has a 1 year low of $12.00 and a 1 year high of $15.85. The firm has a market cap of $4,757.21, a PE ratio of 25.18, a PEG ratio of 4.70 and a beta of 1.19.
Several brokerages have weighed in on GPK. KeyCorp restated a “hold” rating on shares of Graphic Packaging in a research note on Sunday, October 29th. Zacks Investment Research cut Graphic Packaging from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. BMO Capital Markets raised their price objective on Graphic Packaging from $15.50 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, October 25th. Robert W. Baird raised their target price on Graphic Packaging from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Finally, Stephens initiated coverage on Graphic Packaging in a research report on Tuesday, October 24th. They set an “overweight” rating and a $17.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.26.
In other news, VP Deborah R. Frank sold 38,266 shares of the firm’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $15.51, for a total transaction of $593,505.66. Following the completion of the sale, the vice president now directly owns 77,139 shares of the company’s stock, valued at approximately $1,196,425.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company’s stock.
A hedge fund recently raised its stake in Graphic Packaging stock. The Manufacturers Life Insurance Company grew its holdings in shares of Graphic Packaging Holding Company (NYSE:GPK) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,512 shares of the industrial products company’s stock after purchasing an additional 774 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Graphic Packaging were worth $172,000 at the end of the most recent reporting period. Institutional investors own 96.90% of the company’s stock.
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About Graphic Packaging
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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