Mutual of America Capital Management LLC Sells 336 Shares of Packaging Co. of America (NYSE:PKG)

Mutual of America Capital Management LLC cut its stake in Packaging Co. of America (NYSE:PKG) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,663 shares of the industrial products company’s stock after selling 336 shares during the period. Mutual of America Capital Management LLC’s holdings in Packaging Co. of America were worth $2,213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PKG. Louisiana State Employees Retirement System bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $880,000. International Assets Investment Management LLC raised its holdings in shares of Packaging Co. of America by 19,323.7% in the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 30,145 shares during the last quarter. Cim LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth $2,003,000. AXS Investments LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth $766,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America during the fourth quarter worth $16,338,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

NYSE:PKG opened at $185.44 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12-month low of $132.70 and a 12-month high of $191.39. The stock’s 50 day moving average price is $182.20 and its two-hundred day moving average price is $177.51. The firm has a market capitalization of $16.65 billion, a price-to-earnings ratio of 23.18, a P/E/G ratio of 5.02 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts anticipate that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PKG. Bank of America raised their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Truist Financial raised their target price on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Citigroup raised their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. BNP Paribas downgraded shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research report on Friday, April 12th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.17.

Insider Buying and Selling at Packaging Co. of America

In other news, Director Karen E. Gowland bought 300 shares of the stock in a transaction dated Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.