Donoghue Forlines LLC Makes New Investment in Packaging Co. of America (NYSE:PKG)

Donoghue Forlines LLC acquired a new stake in Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 15,579 shares of the industrial products company’s stock, valued at approximately $3,507,000. Packaging Co. of America makes up 1.2% of Donoghue Forlines LLC’s portfolio, making the stock its 9th largest holding.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC lifted its holdings in shares of Packaging Co. of America by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock valued at $99,194,000 after purchasing an additional 35,614 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after purchasing an additional 22,397 shares during the period. Citigroup Inc. lifted its stake in shares of Packaging Co. of America by 30.7% in the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock valued at $24,772,000 after buying an additional 27,018 shares during the period. Finally, GAMMA Investing LLC grew its position in Packaging Co. of America by 24.2% during the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after buying an additional 473 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PKG shares. Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial increased their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup upped their price objective on 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. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Stock Performance

NYSE PKG opened at $239.80 on Thursday. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a 50 day moving average of $235.69 and a 200-day moving average of $218.17. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 28.04, a PEG ratio of 2.38 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed 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. This represents a $5.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Company 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.