BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stake in Packaging Co. of America (NYSE:PKG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 227.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,243 shares of the industrial products company’s stock after buying an additional 22,397 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Packaging Co. of America were worth $6,945,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new position in shares of Packaging Co. of America during the third quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America during the second quarter valued at approximately $33,000. Strategic Financial Concepts LLC purchased a new stake in Packaging Co. of America in the second quarter worth approximately $50,000. Finally, Assetmark Inc. grew its position in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $246.39 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a 50-day simple moving average of $224.82 and a two-hundred day simple moving average of $202.61. The firm has a market capitalization of $22.13 billion, a PE ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. Packaging Co. of America has a 52-week low of $153.58 and a 52-week high of $248.62.

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

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on PKG shares. Wells Fargo & Company increased their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup raised their target price on 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average price target of $221.60.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock valued at $7,500,905. Company 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.