2,398 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Duality Advisers LP

Duality Advisers LP acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, HoldingsChannel reports. The firm acquired 2,398 shares of the industrial products company’s stock, valued at approximately $391,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. CWM LLC raised its stake in Packaging Co. of America by 6.3% during the third quarter. CWM LLC now owns 1,807 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 107 shares during the period. AE Wealth Management LLC increased its stake in shares of Packaging Co. of America by 249.9% in the third quarter. AE Wealth Management LLC now owns 9,712 shares of the industrial products company’s stock valued at $1,491,000 after purchasing an additional 6,936 shares during the period. IFP Advisors Inc increased its stake in shares of Packaging Co. of America by 42.7% in the third quarter. IFP Advisors Inc now owns 1,256 shares of the industrial products company’s stock valued at $193,000 after purchasing an additional 376 shares during the period. Avior Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the third quarter valued at approximately $119,000. Finally, Meridian Wealth Management LLC increased its stake in shares of Packaging Co. of America by 100.0% in the third quarter. Meridian Wealth Management LLC now owns 4,550 shares of the industrial products company’s stock valued at $699,000 after purchasing an additional 2,275 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Buying and Selling

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

NYSE PKG opened at $171.25 on Friday. The firm has a market capitalization of $15.37 billion, a PE ratio of 21.41, a P/E/G ratio of 4.22 and a beta of 0.78. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The company’s 50 day simple moving average is $181.73 and its 200 day simple moving average is $168.06.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. As a group, equities research analysts forecast that Packaging Co. of America will post 8.24 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s payout ratio is 62.50%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Citigroup dropped their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday. BNP Paribas lowered 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. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $187.00 to $191.00 in a research note on Wednesday. Finally, Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price objective for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $173.57.

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.