Handelsbanken Fonder AB Raises Stake in Packaging Co. of America (NYSE:PKG)

Handelsbanken Fonder AB lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,376 shares of the industrial products company’s stock after buying an additional 503 shares during the quarter. Handelsbanken Fonder AB’s holdings in Packaging Co. of America were worth $8,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PKG. Boston Partners purchased a new stake in shares of Packaging Co. of America during the third quarter worth about $123,821,000. Northern Trust Corp grew its holdings in shares of Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after buying an additional 131,058 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth about $16,338,000. Atlas FRM LLC grew its holdings in shares of Packaging Co. of America by 17.9% during the third quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock worth $70,633,000 after buying an additional 70,000 shares in the last quarter. Finally, ING Groep NV grew its holdings in shares of Packaging Co. of America by 465.0% during the third quarter. ING Groep NV now owns 72,588 shares of the industrial products company’s stock worth $11,146,000 after buying an additional 59,741 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $173.92 on Thursday. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The firm has a fifty day moving average of $181.56 and a 200-day moving average of $168.02. The firm has a market capitalization of $15.61 billion, a P/E ratio of 21.74, a PEG ratio of 4.15 and a beta of 0.78. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 8.24 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.87%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PKG has been the subject of several research analyst reports. Truist Financial upped their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Citigroup upped their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $173.86.

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.