Greenleaf Trust Has $396,000 Position in Packaging Co. of America (NYSE:PKG)

Greenleaf Trust raised its position in Packaging Co. of America (NYSE:PKG) by 5.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,431 shares of the industrial products company’s stock after buying an additional 125 shares during the period. Greenleaf Trust’s holdings in Packaging Co. of America were worth $396,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. CENTRAL TRUST Co increased its stake in Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after purchasing an additional 62 shares in the last quarter. Scotia Capital Inc. increased its stake in Packaging Co. of America by 1.2% in the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 63 shares in the last quarter. Essex Savings Bank increased its stake in Packaging Co. of America by 4.0% in the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after purchasing an additional 63 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Packaging Co. of America by 0.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company’s stock valued at $2,736,000 after purchasing an additional 72 shares in the last quarter. Finally, Bangor Savings Bank increased its stake in Packaging Co. of America by 1.4% in the fourth quarter. Bangor Savings Bank now owns 5,151 shares of the industrial products company’s stock valued at $839,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research report on Friday, April 12th. Truist Financial increased their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of “Hold” and a consensus price target of $171.29.

Packaging Co. of America Stock Down 4.7 %

Packaging Co. of America stock opened at $170.88 on Wednesday. The company has a market cap of $15.34 billion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 4.35 and a beta of 0.78. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a fifty day simple moving average of $181.56 and a 200 day simple moving average of $168.02. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm earned $2.20 earnings per share. Research analysts anticipate that Packaging Co. of America will post 8.24 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now 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 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Profile

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.