OLD Second National Bank of Aurora Sells 485 Shares of Packaging Co. of America (NYSE:PKG)

OLD Second National Bank of Aurora trimmed its holdings in Packaging Co. of America (NYSE:PKG) by 4.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,554 shares of the industrial products company’s stock after selling 485 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Packaging Co. of America were worth $2,151,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PKG. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America in the third quarter valued at $32,000. Larson Financial Group LLC lifted its position in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Fortitude Family Office LLC lifted its position in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Assetmark Inc. lifted its position in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America during the third quarter valued at about $64,000. 89.78% of the stock is owned by institutional investors.

Insider Activity

In other Packaging Co. of America 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 completion of the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PKG. Citigroup raised 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 report on Monday, January 6th. Truist Financial raised their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Wells Fargo & Company raised 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 report on Thursday, October 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Packaging Co. of America Price Performance

PKG opened at $215.17 on Thursday. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 25.08, a PEG ratio of 2.36 and a beta of 0.79. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $235.31 and a 200-day moving average price of $220.05. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Equities analysts expect that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.32%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 58.28%.

About Packaging Co. of America

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.