Dana Investment Advisors Inc. Cuts Position in Packaging Co. of America (NYSE:PKG)

Dana Investment Advisors Inc. cut its holdings in Packaging Co. of America (NYSE:PKG) by 2.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,552 shares of the industrial products company’s stock after selling 185 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Packaging Co. of America were worth $1,196,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Coldstream Capital Management Inc. increased its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 54 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares in the last quarter. Moors & Cabot Inc. raised its position 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 purchasing an additional 56 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in Packaging Co. of America by 2.4% in the 2nd quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company’s stock valued at $452,000 after buying an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Packaging Co. of America by 2.8% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company’s stock worth $410,000 after buying an additional 59 shares in the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $211.98 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The stock has a market cap of $19.04 billion, a P/E ratio of 26.50, a PEG ratio of 4.24 and a beta of 0.77. The company has a 50-day moving average price of $204.15 and a 200 day moving average price of $190.40. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $217.69.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.31 EPS. Sell-side analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PKG shares. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday, September 28th. Truist Financial upped their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup upped their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Bank of America boosted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and an average target price of $196.17.

Packaging Co. of America Company 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.