B. Riley Wealth Advisors Inc. Has $693,000 Stock Holdings in Packaging Co. of America (NYSE:PKG)

B. Riley Wealth Advisors Inc. increased its holdings in Packaging Co. of America (NYSE:PKG) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,772 shares of the industrial products company’s stock after purchasing an additional 111 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Packaging Co. of America were worth $693,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Quarry LP increased its holdings in shares of Packaging Co. of America by 95.9% during the second quarter. Quarry LP now owns 521 shares of the industrial products company’s stock worth $95,000 after buying an additional 255 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Packaging Co. of America by 11.7% during the second quarter. NewEdge Advisors LLC now owns 10,847 shares of the industrial products company’s stock worth $1,980,000 after buying an additional 1,138 shares in the last quarter. Front Row Advisors LLC increased its holdings in shares of Packaging Co. of America by 0.9% during the second quarter. Front Row Advisors LLC now owns 16,930 shares of the industrial products company’s stock worth $3,112,000 after buying an additional 145 shares in the last quarter. Creative Planning increased its holdings in shares of Packaging Co. of America by 7.5% during the second quarter. Creative Planning now owns 16,308 shares of the industrial products company’s stock worth $2,977,000 after buying an additional 1,137 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in shares of Packaging Co. of America by 6.8% during the second quarter. Ascent Group LLC now owns 7,259 shares of the industrial products company’s stock worth $1,325,000 after buying an additional 462 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $213.37 on Friday. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $217.69. The stock has a market cap of $19.16 billion, a PE ratio of 26.67, a PEG ratio of 4.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The firm’s 50 day moving average price is $204.79 and its two-hundred day moving average price is $190.78.

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

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. Packaging Co. of America’s payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PKG shares. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Saturday, September 28th. Truist Financial increased their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased their price target 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 increased their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $196.17.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on 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 directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction on Thursday, July 25th. The stock was 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 owns 25,539 shares in the company, valued at approximately $5,012,794.92. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% 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.