OLD Second National Bank of Aurora Has $1.80 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

OLD Second National Bank of Aurora lessened its holdings in Packaging Co. of America (NYSE:PKG) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,053 shares of the industrial products company’s stock after selling 286 shares during the period. OLD Second National Bank of Aurora’s holdings in Packaging Co. of America were worth $1,801,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its position in Packaging Co. of America by 6.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 7,929 shares of the industrial products company’s stock worth $1,292,000 after purchasing an additional 479 shares in the last quarter. Desjardins Global Asset Management Inc. increased its holdings in shares of Packaging Co. of America by 485.7% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 328 shares of the industrial products company’s stock worth $53,000 after buying an additional 272 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $260,000. Beverly Hills Private Wealth LLC increased its holdings in shares of Packaging Co. of America by 17.5% during the fourth quarter. Beverly Hills Private Wealth LLC now owns 10,307 shares of the industrial products company’s stock worth $1,679,000 after buying an additional 1,537 shares in the last quarter. Finally, River Street Advisors LLC increased its holdings in shares of Packaging Co. of America by 3.8% during the fourth quarter. River Street Advisors LLC now owns 4,824 shares of the industrial products company’s stock worth $786,000 after buying an additional 175 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Citigroup raised their price objective on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research note on Friday, April 12th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Truist Financial lifted their price target on shares of 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. Finally, Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.29.

Packaging Co. of America Stock Down 0.0 %

Shares of NYSE:PKG traded down $0.03 during midday trading on Thursday, reaching $178.48. 125,621 shares of the company were exchanged, compared to its average volume of 659,242. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The stock has a fifty day simple moving average of $180.76 and a two-hundred day simple moving average of $167.22. The firm has a market cap of $16.02 billion, a PE ratio of 21.05, a P/E/G ratio of 4.32 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same period in the previous year, the business earned $2.35 EPS. The company’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.80%. Packaging Co. of America’s dividend payout ratio is presently 58.96%.

Insider Transactions at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction 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 approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last ninety days. Insiders own 1.60% of the company’s stock.

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.