B. Metzler seel. Sohn & Co. Holding AG Buys New Shares in Packaging Co. of America (NYSE:PKG)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Packaging Co. of America (NYSE:PKG) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,253 shares of the industrial products company’s stock, valued at approximately $916,000.

Other hedge funds have also added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators lifted its stake in shares of Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after buying an additional 49 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in shares of Packaging Co. of America by 1.4% during the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after buying an additional 54 shares during the last quarter. Huntington National Bank lifted its stake in shares of Packaging Co. of America by 0.5% during the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock worth $2,170,000 after buying an additional 55 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after buying an additional 56 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock opened at $246.39 on Friday. 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 $153.58 and a 12 month high of $248.62. The firm has a market cap of $22.13 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. The company’s 50-day moving average price is $224.82 and its two-hundred day moving average price is $202.44.

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

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insider Activity at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

PKG has been the subject of several analyst reports. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup lifted their price objective 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. Wells Fargo & Company lifted their price objective 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, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and a consensus price target of $221.60.

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.