Packaging Co. of America (NYSE:PKG) Shares Purchased by Atria Investments Inc

Atria Investments Inc raised its position in Packaging Co. of America (NYSE:PKG) by 2.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,145 shares of the industrial products company’s stock after buying an additional 321 shares during the quarter. Atria Investments Inc’s holdings in Packaging Co. of America were worth $2,616,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America in the third quarter valued at about $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 2nd quarter valued at approximately $33,000. Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America during the 1st quarter worth approximately $43,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $235.58 on Friday. The stock has a market capitalization of $21.16 billion, a P/E ratio of 27.46, a PEG ratio of 3.37 and a beta of 0.76. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The business’s fifty day moving average price is $220.55 and its 200 day moving average price is $199.52. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $245.00.

Packaging Co. of America (NYSE:PKG) last released 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. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PKG shares. Truist Financial reaffirmed a “buy” rating and set 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. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Citigroup increased their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Insider Activity

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

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.