Packaging Co. of America (NYSE:PKG) Position Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its position in Packaging Co. of America (NYSE:PKG) by 51.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,972 shares of the industrial products company’s stock after purchasing an additional 28,553 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Packaging Co. of America were worth $15,330,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. National Bank of Canada FI grew its stake in shares of Packaging Co. of America by 6.2% in the 4th quarter. National Bank of Canada FI now owns 27,609 shares of the industrial products company’s stock valued at $4,525,000 after buying an additional 1,616 shares in the last quarter. Private Advisor Group LLC grew its position in Packaging Co. of America by 4.2% in the fourth quarter. Private Advisor Group LLC now owns 6,786 shares of the industrial products company’s stock worth $1,105,000 after acquiring an additional 271 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth $241,000. Principal Securities Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $110,000. Finally, Versor Investments LP acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at $261,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

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

Packaging Co. of America Stock Down 1.1 %

PKG opened at $201.81 on Friday. The business has a 50 day moving average of $194.35 and a 200-day moving average of $186.46. The stock has a market capitalization of $18.12 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 5.41 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $210.11.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the firm earned $2.31 EPS. The business’s revenue was up 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.48%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Citigroup raised their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Truist Financial boosted their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $190.50.

Packaging Co. of America 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.