Candriam S.C.A. Buys 1,150 Shares of Packaging Co. of America (NYSE:PKG)

Candriam S.C.A. increased its holdings in Packaging Co. of America (NYSE:PKG) by 18.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 7,292 shares of the industrial products company’s stock after buying an additional 1,150 shares during the period. Candriam S.C.A.’s holdings in Packaging Co. of America were worth $1,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America in the first quarter valued at approximately $25,000. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $28,000. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the second quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in shares of Packaging Co. of America in the first quarter valued at approximately $43,000. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Packaging Co. of America by 22.4% in the second quarter. Deseret Mutual Benefit Administrators now owns 322 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 59 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Insider Activity at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the 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 transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Charles J. Carter sold 5,389 shares of the 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 transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The shares were 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 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on PKG. Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America increased their target price 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. Citigroup increased their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $190.50.

Packaging Co. of America Trading Up 0.2 %

Shares of PKG stock opened at $205.04 on Wednesday. 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 52-week low of $143.82 and a 52-week high of $210.11. The company has a market capitalization of $18.41 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 5.21 and a beta of 0.77. The business’s fifty day moving average is $195.39 and its 200 day moving average is $187.00.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the business posted $2.31 earnings per share. The firm’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be given a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.