Mercer Global Advisors Inc. ADV Acquires 13,575 Shares of Packaging Co. of America (NYSE:PKG)

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 40.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 47,049 shares of the industrial products company’s stock after purchasing an additional 13,575 shares during the period. Mercer Global Advisors Inc. ADV owned about 0.05% of Packaging Co. of America worth $8,589,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America in the first quarter valued at approximately $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America during the 4th quarter valued at $28,000. Asset Dedication LLC boosted its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the period. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the 2nd quarter worth $33,000. Finally, Headlands Technologies LLC purchased a new position in shares of Packaging Co. of America in the first quarter valued at about $43,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of analyst reports. Truist Financial increased 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 report on Thursday, July 25th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company upped their target price on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Finally, Bank of America boosted their price objective on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Trading Down 1.3 %

Packaging Co. of America stock opened at $212.90 on Friday. The business’s fifty day simple moving average is $199.87 and its two-hundred day simple moving average is $188.51. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $19.12 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $217.69.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company earned $2.31 earnings per share. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts predict that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio is 62.50%.

Insiders Place Their Bets

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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at this link. In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 6,000 shares of the firm’s 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 $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

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.