Packaging Co. of America (NYSE:PKG) Shares Bought by Atwater Malick LLC

Atwater Malick LLC lifted its holdings in Packaging Co. of America (NYSE:PKG) by 13.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,973 shares of the industrial products company’s stock after buying an additional 1,573 shares during the quarter. Packaging Co. of America accounts for 0.9% of Atwater Malick LLC’s portfolio, making the stock its 25th biggest holding. Atwater Malick LLC’s holdings in Packaging Co. of America were worth $2,794,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. CANADA LIFE ASSURANCE Co boosted its position in shares of Packaging Co. of America by 4.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after purchasing an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after buying an additional 21,143 shares during the period. Cim LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at about $2,003,000. Summit Financial Strategies Inc. increased its holdings in Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after buying an additional 12,129 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Packaging Co. of America by 6.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock valued at $41,839,000 after acquiring an additional 14,277 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Packaging Co. of America Trading Up 0.8 %

NYSE PKG traded up $1.69 during mid-day trading on Friday, reaching $217.95. 368,054 shares of the stock were exchanged, compared to its average volume of 596,570. The stock has a market capitalization of $19.57 billion, a PE ratio of 27.35, a PEG ratio of 4.25 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $218.67. The business’s fifty day simple moving average is $206.56 and its 200 day simple moving average is $191.85.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the firm earned $2.31 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Packaging Co. of America will post 8.73 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.29%. Packaging Co. of America’s dividend payout ratio is presently 62.74%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PKG. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial raised their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Bank of America lifted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus target price of $199.50.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.