Graphic Packaging Holding (NYSE:GPK) Sees Significant Drop in Short Interest

Graphic Packaging Holding (NYSE:GPK) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 12,960,000 shares, a drop of 6.2% from the March 15th total of 13,810,000 shares. Based on an average daily volume of 2,910,000 shares, the short-interest ratio is presently 4.5 days.

Graphic Packaging Trading Down 0.5 %

Shares of NYSE:GPK traded down $0.15 during trading on Tuesday, reaching $27.42. 1,914,218 shares of the stock were exchanged, compared to its average volume of 2,856,819. The firm has a market cap of $8.43 billion, a price-to-earnings ratio of 11.56 and a beta of 0.84. Graphic Packaging has a 12-month low of $20.07 and a 12-month high of $29.50. The firm’s 50-day moving average price is $26.98 and its 200 day moving average price is $24.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.42 and a current ratio of 1.10.

Graphic Packaging (NYSE:GPK) last issued its quarterly earnings data on Tuesday, February 20th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.06. Graphic Packaging had a net margin of 7.67% and a return on equity of 35.66%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $0.59 earnings per share. Graphic Packaging’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, sell-side analysts anticipate that Graphic Packaging will post 2.71 earnings per share for the current fiscal year.

Graphic Packaging Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Thursday, March 14th. Graphic Packaging’s dividend payout ratio (DPR) is presently 17.02%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company reissued an “underweight” rating and issued a $21.00 price objective on shares of Graphic Packaging in a research note on Monday, April 1st. Robert W. Baird raised their target price on shares of Graphic Packaging from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. StockNews.com cut shares of Graphic Packaging from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. Finally, Citigroup raised their target price on shares of Graphic Packaging from $32.00 to $34.00 and gave the company a “buy” rating in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Graphic Packaging currently has an average rating of “Hold” and a consensus target price of $28.44.

Insider Buying and Selling

In related news, EVP Joseph P. Yost sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $26.20, for a total transaction of $1,834,000.00. Following the completion of the sale, the executive vice president now directly owns 205,231 shares in the company, valued at $5,377,052.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Graphic Packaging

Several large investors have recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of Graphic Packaging during the first quarter valued at about $26,000. Principal Securities Inc. bought a new stake in shares of Graphic Packaging during the fourth quarter valued at about $26,000. OLD Point Trust & Financial Services N A bought a new stake in shares of Graphic Packaging during the fourth quarter valued at about $27,000. ST Germain D J Co. Inc. bought a new stake in shares of Graphic Packaging during the second quarter valued at about $29,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Graphic Packaging by 870.7% during the third quarter. FinTrust Capital Advisors LLC now owns 1,291 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 1,158 shares in the last quarter. 99.67% of the stock is currently owned by institutional investors.

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.