2,398 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Duality Advisers LP

Duality Advisers LP acquired a new position in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,398 shares of the industrial products company’s stock, valued at approximately $391,000.

Other hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Packaging Co. of America by 19,323.7% during the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after buying an additional 30,145 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Packaging Co. of America during the 4th quarter valued at about $16,338,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Packaging Co. of America by 60.4% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 1,890 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Packaging Co. of America by 90.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after acquiring an additional 6,368 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Packaging Co. of America by 75.0% during the 3rd quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock valued at $2,436,000 after acquiring an additional 6,809 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In other news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock valued at $6,799,177 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on PKG. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Truist Financial boosted their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Finally, Citigroup lowered their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Price Performance

PKG opened at $171.25 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The stock has a market capitalization of $15.37 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 4.22 and a beta of 0.78. The stock’s 50 day moving average price is $181.73 and its 200-day moving average price is $168.06.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.92%. Packaging Co. of America’s payout ratio is 62.50%.

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.