Lmcg Investments LLC Has $14.12 Million Position in Packaging Co. of America (NYSE:PKG)

Lmcg Investments LLC lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 6.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 62,705 shares of the industrial products company’s stock after selling 4,174 shares during the quarter. Lmcg Investments LLC owned about 0.07% of Packaging Co. of America worth $14,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC boosted its holdings in Packaging Co. of America by 14.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 6,379 shares of the industrial products company’s stock valued at $1,161,000 after purchasing an additional 828 shares during the period. Intech Investment Management LLC boosted its stake in shares of Packaging Co. of America by 430.8% in the second quarter. Intech Investment Management LLC now owns 12,814 shares of the industrial products company’s stock valued at $2,339,000 after buying an additional 10,400 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Packaging Co. of America during the second quarter worth approximately $1,296,000. AE Wealth Management LLC increased its stake in Packaging Co. of America by 28.6% during the 2nd quarter. AE Wealth Management LLC now owns 3,751 shares of the industrial products company’s stock worth $685,000 after acquiring an additional 835 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in Packaging Co. of America by 10.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 24,494 shares of the industrial products company’s stock valued at $4,472,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,300 shares of company stock worth $8,064,152. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE PKG opened at $237.52 on Tuesday. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.34 and a beta of 0.79. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The stock has a fifty day simple moving average of $235.61 and a 200 day simple moving average of $217.56.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 19.10% and a net margin of 9.46%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Sell-side analysts expect that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. Truist Financial raised their price target on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company upped 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 report on Thursday, October 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.