Packaging Co. of America (NYSE:PKG) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in Packaging Co. of America (NYSE:PKG) by 32.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,946 shares of the industrial products company’s stock after selling 1,930 shares during the period. Fulton Bank N.A.’s holdings in Packaging Co. of America were worth $888,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PKG. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America during the third quarter valued at $32,000. Larson Financial Group LLC grew 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 period. Assetmark Inc. increased its stake in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Brooklyn Investment Group acquired a new position in Packaging Co. of America in the 3rd quarter worth about $64,000. Finally, Allworth Financial LP boosted its position in Packaging Co. of America by 65.1% during the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 123 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last ninety days. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Citigroup upped their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Truist Financial upped their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company lifted 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $238.67.

Packaging Co. of America Trading Up 1.0 %

PKG opened at $228.17 on Friday. The firm has a market capitalization of $20.49 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The company’s 50 day simple moving average is $236.01 and its two-hundred day simple moving average is $214.61. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping 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 company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. Analysts expect 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 given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.