Sumitomo Mitsui DS Asset Management Company Ltd Has $1.91 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,852 shares of the industrial products company’s stock after acquiring an additional 148 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Packaging Co. of America were worth $1,907,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co grew its position in shares of Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Packaging Co. of America by 30.4% during the 1st 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. Summit Financial Strategies Inc. increased its position in Packaging Co. of America by 5.5% during the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock worth $42,809,000 after buying an additional 12,129 shares during the period. DekaBank Deutsche Girozentrale lifted its holdings in shares of Packaging Co. of America by 6.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after buying an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Packaging Co. of America by 10.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after acquiring an additional 10,516 shares during the period. 89.78% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $219.08 on Tuesday. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $222.98. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 4.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The company’s 50 day simple moving average is $209.17 and its 200 day simple moving average is $193.03.

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 (EPS) for the quarter, beating 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 company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter last year, the company posted $2.31 EPS. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, research analysts predict that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PKG shares. Truist Financial lifted their price objective on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, Citigroup lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $216.00.

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.