Acadian Asset Management LLC Raises Position in Packaging Co. of America (NYSE:PKG)

Acadian Asset Management LLC lifted its stake in Packaging Co. of America (NYSE:PKG) by 194.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,188 shares of the industrial products company’s stock after buying an additional 17,942 shares during the period. Acadian Asset Management LLC’s holdings in Packaging Co. of America were worth $4,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the first quarter worth about $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America in the fourth quarter worth about $28,000. Asset Dedication LLC lifted its stake in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares in the last quarter. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America in the second quarter worth about $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Packaging Co. of America in the first quarter worth about $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction that occurred on 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 directly owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PKG. Wells Fargo & Company boosted their price target on 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. Bank of America boosted their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. 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. Finally, Citigroup upped their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and an average target price of $190.50.

Packaging Co. of America Trading Down 0.2 %

Shares of NYSE PKG opened at $204.60 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $195.89 and its two-hundred day moving average price is $187.12. The stock has a market capitalization of $18.37 billion, a P/E ratio of 25.58, a PEG ratio of 5.21 and a beta of 0.77. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $210.11.

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

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is 62.50%.

About Packaging Co. of America

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.