ING Groep NV Cuts Position in Packaging Co. of America (NYSE:PKG)

ING Groep NV decreased its holdings in Packaging Co. of America (NYSE:PKG) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 99,603 shares of the industrial products company’s stock after selling 28,859 shares during the quarter. ING Groep NV owned about 0.11% of Packaging Co. of America worth $22,424,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PKG. Creative Planning raised its position in Packaging Co. of America by 3.3% in the third quarter. Creative Planning now owns 16,842 shares of the industrial products company’s stock worth $3,628,000 after acquiring an additional 534 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Packaging Co. of America by 23.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company’s stock worth $17,427,000 after acquiring an additional 15,536 shares in the last quarter. Eastern Bank purchased a new position in Packaging Co. of America in the third quarter worth $108,000. Axecap Investments LLC purchased a new position in Packaging Co. of America in the third quarter worth $4,098,000. Finally, International Assets Investment Management LLC raised its position in Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Down 1.3 %

Packaging Co. of America stock opened at $209.49 on Friday. The stock has a market cap of $18.81 billion, a PE ratio of 23.46, a P/E/G ratio of 2.44 and a beta of 0.77. The stock has a 50-day moving average price of $224.69 and a 200 day moving average price of $221.71. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is 55.99%.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PKG has been the subject of several research analyst reports. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America has an average rating of “Moderate Buy” and a consensus target price of $233.00.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.