Alberta Investment Management Corp Purchases 50,542 Shares of Packaging Co. of America (NYSE:PKG)

Alberta Investment Management Corp raised its stake in Packaging Co. of America (NYSE:PKG) by 490.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,842 shares of the industrial products company’s stock after purchasing an additional 50,542 shares during the period. Alberta Investment Management Corp owned 0.07% of Packaging Co. of America worth $13,697,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Exchange Traded Concepts LLC acquired a new position in shares of Packaging Co. of America in the third quarter valued at $78,000. Creative Planning increased its holdings in shares of Packaging Co. of America by 3.3% in the third quarter. Creative Planning now owns 16,842 shares of the industrial products company’s stock valued at $3,628,000 after purchasing an additional 534 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Packaging Co. of America by 1.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,852 shares of the industrial products company’s stock valued at $1,907,000 after purchasing an additional 148 shares during the last quarter. New Century Financial Group LLC acquired a new position in shares of Packaging Co. of America in the third quarter valued at $236,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Packaging Co. of America by 23.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company’s stock valued at $17,427,000 after purchasing an additional 15,536 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on PKG. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Citigroup upped their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Trading Down 0.1 %

Shares of Packaging Co. of America stock opened at $212.19 on Wednesday. The company has a market capitalization of $19.06 billion, a price-to-earnings ratio of 23.76, a PEG ratio of 2.44 and a beta of 0.77. 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 12-month low of $167.60 and a 12-month high of $250.82. The firm’s 50-day moving average price is $225.81 and its two-hundred day moving average price is $221.86.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.36%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

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.