PNC Financial Services Group Inc. Acquires 2,441 Shares of Graphic Packaging Holding (NYSE:GPK)

PNC Financial Services Group Inc. increased its holdings in shares of Graphic Packaging Holding (NYSE:GPK) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,629 shares of the industrial products company’s stock after acquiring an additional 2,441 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Graphic Packaging were worth $832,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in shares of Graphic Packaging in the third quarter valued at approximately $30,000. Crews Bank & Trust acquired a new position in Graphic Packaging in the 4th quarter valued at $32,000. Avior Wealth Management LLC lifted its position in shares of Graphic Packaging by 2,484.0% during the 4th quarter. Avior Wealth Management LLC now owns 1,292 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 1,242 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Graphic Packaging by 92.7% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,432 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 689 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Graphic Packaging by 58.2% in the fourth quarter. UMB Bank n.a. now owns 1,493 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 549 shares during the period. Institutional investors own 99.67% of the company’s stock.

Graphic Packaging Price Performance

GPK stock opened at $26.21 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.54 and a current ratio of 1.46. Graphic Packaging Holding has a 52-week low of $25.13 and a 52-week high of $30.70. The company has a market capitalization of $7.87 billion, a P/E ratio of 12.13, a PEG ratio of 2.10 and a beta of 0.81. The company has a fifty day moving average price of $26.99 and a 200-day moving average price of $28.27.

Graphic Packaging (NYSE:GPK) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.04). Graphic Packaging had a return on equity of 25.96% and a net margin of 7.47%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.15 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. Graphic Packaging’s revenue was down 6.8% compared to the same quarter last year. As a group, equities analysts expect that Graphic Packaging Holding will post 2.47 EPS for the current year.

Graphic Packaging Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, April 5th. Investors of record on Saturday, March 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date is Friday, March 14th. This is an increase from Graphic Packaging’s previous quarterly dividend of $0.10. Graphic Packaging’s dividend payout ratio (DPR) is currently 20.37%.

Analyst Upgrades and Downgrades

Several research firms have commented on GPK. Citigroup reissued a “neutral” rating and issued a $30.00 target price (down from $33.00) on shares of Graphic Packaging in a report on Monday, January 6th. Truist Financial raised their target price on Graphic Packaging from $30.00 to $32.00 and gave the company a “hold” rating in a report on Monday, January 6th. Wells Fargo & Company raised Graphic Packaging from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $24.00 to $27.00 in a research note on Monday, January 6th. Finally, Robert W. Baird cut their target price on shares of Graphic Packaging from $36.00 to $32.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.70.

Graphic Packaging Profile

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.