5,806 Shares in Packaging Co. of America (NYSE:PKG) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,806 shares of the industrial products company’s stock, valued at approximately $1,060,000.

Several other institutional investors have also recently modified their holdings of the stock. Coldstream Capital Management Inc. raised its position in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after purchasing an additional 54 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. raised its position in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the last quarter. Evergreen Capital Management LLC raised its holdings in Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after acquiring an additional 57 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its holdings in Packaging Co. of America by 2.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock valued at $410,000 after acquiring an additional 59 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Down 0.1 %

Shares of NYSE PKG opened at $215.40 on Tuesday. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The firm has a fifty day moving average of $203.31 and a 200-day moving average of $190.02. The stock has a market capitalization of $19.35 billion, a PE ratio of 26.93, a P/E/G ratio of 4.23 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data 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 net margin of 9.06% and a return on equity of 18.21%. The company 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 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.32%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

Several research analysts have weighed in on PKG shares. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company boosted their price target 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. Truist Financial boosted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report 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 company a “buy” rating in a report on Monday, June 17th. Finally, Citigroup boosted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.50.

Insider Buying and Selling

In related news, EVP Charles J. Carter sold 5,389 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 $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the company’s 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 disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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.