Millennium Management LLC raised its stake in Graphic Packaging Holding (NYSE:GPK) by 98.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 460,923 shares of the industrial products company’s stock after buying an additional 228,104 shares during the period. Millennium Management LLC owned about 0.16% of Graphic Packaging worth $6,798,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GPK. Quest Capital Management Inc. ADV bought a new stake in shares of Graphic Packaging during the 3rd quarter worth $45,000. Rockefeller Capital Management L.P. raised its position in Graphic Packaging by 64.1% during the second quarter. Rockefeller Capital Management L.P. now owns 4,287 shares of the industrial products company’s stock valued at $60,000 after purchasing an additional 1,675 shares in the last quarter. Neo Ivy Capital Management bought a new stake in Graphic Packaging during the second quarter worth about $100,000. Point72 Hong Kong Ltd bought a new stake in Graphic Packaging during the second quarter worth about $120,000. Finally, Parallax Volatility Advisers L.P. purchased a new position in shares of Graphic Packaging in the 2nd quarter worth about $137,000.
Shares of NYSE:GPK opened at $16.57 on Tuesday. The stock has a market cap of $4.84 billion, a PE ratio of 18.93, a PEG ratio of 1.12 and a beta of 1.37. The company’s fifty day moving average is $16.05 and its 200 day moving average is $14.49. Graphic Packaging Holding has a 52 week low of $10.13 and a 52 week high of $16.80. The company has a quick ratio of 0.64, a current ratio of 1.62 and a debt-to-equity ratio of 1.44.
Graphic Packaging (NYSE:GPK) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Graphic Packaging had a net margin of 3.60% and a return on equity of 12.72%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Graphic Packaging Holding will post 0.87 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 5th. Stockholders of record on Sunday, December 15th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. Graphic Packaging’s dividend payout ratio is currently 37.04%.
Several brokerages have recently commented on GPK. Zacks Investment Research lowered Graphic Packaging from a “buy” rating to a “hold” rating in a research report on Thursday, August 15th. ValuEngine upgraded Graphic Packaging from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. KeyCorp reaffirmed a “hold” rating on shares of Graphic Packaging in a research note on Thursday, September 26th. Finally, Deutsche Bank upped their target price on Graphic Packaging from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $16.00.
Graphic Packaging Company Profile
Graphic Packaging Holding Company, together with its subsidiaries, provides paper-based packaging solutions to food, beverage, foodservice, and other consumer products companies. It operates through three segments: Paperboard Mills, Americas Paperboard Packaging, and Europe Paperboard Packaging. The company offers coated unbleached kraft (CUK), coated recycled paperboard (CRB), and solid bleached sulfate paperboard (SBS) to various paperboard packaging converters and brokers; and paperboard packaging folding cartons and cups, lids, and food containers primarily to consumer packaged goods, quick-service restaurants, and foodservice companies.
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