Integrated Wealth Concepts LLC Invests $312,000 in Packaging Co. of America (NYSE:PKG)

Integrated Wealth Concepts LLC bought a new stake in Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,450 shares of the industrial products company’s stock, valued at approximately $312,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PKG. Asset Dedication LLC boosted its position in shares of 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 during the period. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America in the 2nd quarter valued at about $33,000. Larson Financial Group LLC increased its stake in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in Packaging Co. of America in the second quarter valued at approximately $50,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of 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 90 days, insiders have sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $239.03 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The firm has a market capitalization of $21.47 billion, a P/E ratio of 27.86, a PEG ratio of 3.41 and a beta of 0.77. The company’s fifty day moving average is $233.12 and its two-hundred day moving average is $208.37.

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

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

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.