Mutual of America Capital Management LLC Has $2.37 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Mutual of America Capital Management LLC cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.3% in the third quarter, HoldingsChannel reports. The fund owned 10,979 shares of the industrial products company’s stock after selling 261 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Packaging Co. of America were worth $2,365,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PKG. River Street Advisors LLC boosted its holdings in shares of Packaging Co. of America by 6.8% during the third quarter. River Street Advisors LLC now owns 5,244 shares of the industrial products company’s stock worth $1,130,000 after purchasing an additional 336 shares during the period. Mizuho Securities USA LLC lifted its position in Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after buying an additional 123,711 shares in the last quarter. Seelaus Asset Management LLC grew its holdings in shares of Packaging Co. of America by 2.0% during the 3rd quarter. Seelaus Asset Management LLC now owns 4,780 shares of the industrial products company’s stock valued at $1,030,000 after acquiring an additional 95 shares in the last quarter. Coastline Trust Co acquired a new position in shares of Packaging Co. of America in the third quarter worth $206,000. Finally, Archer Investment Corp purchased a new stake in shares of Packaging Co. of America during the third quarter worth $288,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.4 %

Shares of Packaging Co. of America stock opened at $246.39 on Friday. Packaging Co. of America has a 12-month low of $153.58 and a 12-month high of $248.62. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average price of $224.82 and a two-hundred day moving average price of $202.44. The stock has a market capitalization of $22.13 billion, a P/E ratio of 28.72, a PEG ratio of 3.44 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 EPS. Equities analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $7,500,905 in the last 90 days. 1.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

PKG has been the topic of a number of recent research reports. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Truist Financial reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Citigroup boosted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Hold” and a consensus price target of $221.60.

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.