Natixis Advisors LLC Grows Position in Packaging Co. of America (NYSE:PKG)

Natixis Advisors LLC boosted its stake in Packaging Co. of America (NYSE:PKG) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,011 shares of the industrial products company’s stock after buying an additional 466 shares during the period. Natixis Advisors LLC owned approximately 0.09% of Packaging Co. of America worth $15,520,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 1st quarter valued at approximately $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $28,000. First Horizon Advisors Inc. raised its position in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Gables Capital Management Inc. acquired a new position in Packaging Co. of America during the fourth quarter worth $31,000. Finally, Headlands Technologies LLC purchased a new position in shares of Packaging Co. of America during the first quarter worth $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.7 %

Packaging Co. of America stock opened at $204.56 on Thursday. The company has a market capitalization of $18.37 billion, a P/E ratio of 25.57, a PEG ratio of 5.41 and a beta of 0.77. 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 fifty-two week low of $143.82 and a fifty-two week high of $210.11. The stock has a 50-day simple moving average of $193.55 and a 200-day simple moving average of $185.98.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $2.31 EPS. Packaging Co. of America’s revenue for the quarter was up 6.3% on a year-over-year basis. Equities research analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be issued 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 is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

PKG has been the topic of several research analyst reports. Bank of America boosted their price objective 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. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Truist Financial lifted their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Citigroup increased their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Finally, Wells Fargo & Company boosted their price target 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $190.50.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America 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 $1,057,752.92. Following the transaction, 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 Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the business’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 $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

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.