Packaging Co. of America (NYSE:PKG) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. increased its position in Packaging Co. of America (NYSE:PKG) by 93.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,147 shares of the industrial products company’s stock after acquiring an additional 3,457 shares during the period. Atria Wealth Solutions Inc.’s holdings in Packaging Co. of America were worth $1,612,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC lifted its holdings in shares of Packaging Co. of America by 23.5% in the fourth quarter. Venturi Wealth Management LLC now owns 3,683 shares of the industrial products company’s stock valued at $829,000 after buying an additional 702 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at $224,000. Truist Financial Corp lifted its holdings in shares of Packaging Co. of America by 4.8% during the fourth quarter. Truist Financial Corp now owns 24,351 shares of the industrial products company’s stock valued at $5,482,000 after purchasing an additional 1,122 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Packaging Co. of America by 2.6% during the fourth quarter. CIBC Asset Management Inc now owns 15,632 shares of the industrial products company’s stock valued at $3,519,000 after purchasing an additional 393 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 0.7% during the fourth quarter. Principal Financial Group Inc. now owns 463,899 shares of the industrial products company’s stock valued at $104,445,000 after purchasing an additional 3,381 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.7 %

NYSE:PKG opened at $208.19 on Friday. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 23.31, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. 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 business’s fifty day moving average price is $224.09 and its 200 day moving average price is $222.00.

Packaging Co. of America (NYSE:PKG) last posted its quarterly 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 net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 55.99%.

Insiders Place Their Bets

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Wells Fargo & Company reduced their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $233.00.

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.