Packaging Co. of America (NYSE:PKG) Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC grew its stake in Packaging Co. of America (NYSE:PKG) by 70.1% during the second quarter, HoldingsChannel reports. The firm owned 96,484 shares of the industrial products company’s stock after purchasing an additional 39,773 shares during the quarter. Squarepoint Ops LLC’s holdings in Packaging Co. of America were worth $17,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock valued at $13,419,000 after purchasing an additional 3,078 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after purchasing an additional 21,143 shares during the period. Cim LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $2,003,000. Summit Financial Strategies Inc. increased its holdings in shares of Packaging Co. of America by 5.5% in the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company’s stock valued at $42,809,000 after purchasing an additional 12,129 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in Packaging Co. of America by 6.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company’s stock worth $41,839,000 after acquiring an additional 14,277 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity

In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following 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. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PKG shares. Bank of America upped their price objective 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. Wells Fargo & Company upped their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Citigroup upped their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Finally, Truist Financial upped their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Packaging Co. of America Stock Up 0.2 %

PKG opened at $214.74 on Friday. The business’s fifty day moving average is $202.38 and its two-hundred day moving average is $189.54. 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 company has a market cap of $19.29 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 4.22 and a beta of 0.77. Packaging Co. of America has a one year low of $143.82 and a one year high of $217.69.

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

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.33%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

About Packaging Co. of America

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.