Amalgamated Bank Has $4.78 Million Stake in Packaging Co. of America (NYSE:PKG)

Amalgamated Bank grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,362 shares of the industrial products company’s stock after acquiring an additional 1,048 shares during the period. Amalgamated Bank’s holdings in Packaging Co. of America were worth $4,783,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in Packaging Co. of America by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after purchasing an additional 11,536 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Packaging Co. of America by 4.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock worth $205,389,000 after buying an additional 58,444 shares during the period. Northern Trust Corp grew its stake in Packaging Co. of America by 12.8% in the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock valued at $177,323,000 after acquiring an additional 131,058 shares during the period. Boston Partners bought a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $123,821,000. Finally, Atlas FRM LLC raised its position 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 purchasing an additional 70,000 shares during the period. 89.78% of the stock is owned by institutional investors.

Insider Activity at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s 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 completion of the transaction, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Up 1.7 %

Packaging Co. of America stock opened at $179.15 on Wednesday. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.08 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.29 and a beta of 0.80. The firm has a 50 day moving average price of $182.41 and a 200-day moving average price of $169.64. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the business posted $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts predict that Packaging Co. of America will post 8.21 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research note on Friday, April 12th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Citigroup dropped their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their target price for the company from $172.00 to $202.00 in a report on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $173.57.

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.