Sigma Planning Corp Purchases Shares of 2,510 Packaging Co. of America (NYSE:PKG)

Sigma Planning Corp purchased a new stake in Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,510 shares of the industrial products company’s stock, valued at approximately $541,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $32,000. Asset Dedication LLC raised 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. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $33,000. Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America in the 1st quarter valued at $43,000. Finally, Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the company’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 transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial restated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company lifted their price target 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 lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Down 1.2 %

PKG stock opened at $235.58 on Friday. The company has a market cap of $21.16 billion, a P/E ratio of 27.46, a P/E/G ratio of 3.37 and a beta of 0.76. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The company’s 50-day moving average price is $220.55 and its 200 day moving average price is $199.52. 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 announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. On average, research analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 58.28%.

Packaging Co. of America Company 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.