Wilmington Savings Fund Society FSB Invests $836,000 in Packaging Co. of America (NYSE:PKG)

Wilmington Savings Fund Society FSB purchased a new stake in Packaging Co. of America (NYSE:PKG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,879 shares of the industrial products company’s stock, valued at approximately $836,000.

A number of other hedge funds have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in Packaging Co. of America by 2.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,807 shares of the industrial products company’s stock worth $1,243,000 after buying an additional 135 shares during the period. Raymond James & Associates lifted its holdings in shares of Packaging Co. of America by 7.8% during the 2nd quarter. Raymond James & Associates now owns 195,171 shares of the industrial products company’s stock valued at $35,630,000 after purchasing an additional 14,112 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Packaging Co. of America by 20.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 15,137 shares of the industrial products company’s stock valued at $2,763,000 after purchasing an additional 2,524 shares during the period. Nisa Investment Advisors LLC increased its stake in Packaging Co. of America by 8.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 16,113 shares of the industrial products company’s stock worth $2,962,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Financial Advisory Partners LLC bought a new stake in Packaging Co. of America during the 2nd quarter worth approximately $2,232,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup increased their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial reaffirmed a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Down 0.4 %

Packaging Co. of America stock opened at $238.10 on Monday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a fifty day simple moving average of $233.62 and a 200 day simple moving average of $209.15. The company has a market cap of $21.38 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. Research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.10%. Packaging Co. of America’s payout ratio is 58.28%.

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.