BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Holdings in Packaging Co. of America (NYSE:PKG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Packaging Co. of America (NYSE:PKG) by 227.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,243 shares of the industrial products company’s stock after purchasing an additional 22,397 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Packaging Co. of America were worth $6,945,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PKG. Asset Dedication LLC grew its position in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America in the third quarter worth approximately $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America in the second quarter valued at approximately $33,000. Strategic Financial Concepts LLC bought a new stake in Packaging Co. of America during the second quarter valued at approximately $50,000. Finally, Assetmark Inc. grew its stake in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 0.4 %

PKG opened at $246.39 on Monday. The company has a market cap of $22.13 billion, a P/E ratio of 28.72, a P/E/G ratio of 3.44 and a beta of 0.76. Packaging Co. of America has a 12 month low of $153.58 and a 12 month high of $248.62. The business’s 50-day moving average price is $224.82 and its 200-day moving average price is $202.61. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. On average, equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares of the company’s stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,000 shares of company stock worth $7,500,905. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PKG shares. Citigroup raised 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 report on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and a consensus target price of $221.60.

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.