Packaging Co. of America (NYSE:PKG) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in Packaging Co. of America (NYSE:PKG) by 1.6% during the third quarter, Holdings Channel reports. The institutional investor owned 83,666 shares of the industrial products company’s stock after selling 1,345 shares during the quarter. Natixis Advisors LLC’s holdings in Packaging Co. of America were worth $18,022,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PKG. Asset Dedication LLC boosted its position in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America in the third quarter worth $32,000. Tortoise Investment Management LLC acquired a new position in Packaging Co. of America in the second quarter valued at $33,000. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America in the second quarter valued at $50,000. Finally, Assetmark Inc. increased its stake in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $238.31 on Wednesday. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 27.78, a PEG ratio of 3.31 and a beta of 0.76. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a 50-day moving average of $222.57 and a 200-day moving average of $201.18.

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

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PKG has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup upped their price target on 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. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $221.60.

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.