Orion Portfolio Solutions LLC Sells 194 Shares of Packaging Co. of America (NYSE:PKG)

Orion Portfolio Solutions LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,781 shares of the industrial products company’s stock after selling 194 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Packaging Co. of America were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the 2nd quarter valued at about $33,000. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America in the second quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock opened at $237.09 on Tuesday. The firm has a market cap of $21.29 billion, a P/E ratio of 27.63, a P/E/G ratio of 3.34 and a beta of 0.77. The firm’s fifty day moving average is $234.09 and its 200 day moving average is $209.54. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. 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 (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the firm earned $2.05 earnings per share. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America’s payout ratio is currently 58.28%.

Insider Activity

In related news, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PKG shares. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Saturday. Citigroup raised their price target on 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. Finally, Truist Financial reaffirmed 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 note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $221.60.

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.