Packaging Co. of America (NYSE:PKG) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,242 shares of the industrial products company’s stock after selling 107 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Packaging Co. of America were worth $3,657,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Stifel Financial Corp lifted its position in Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after buying an additional 536,389 shares in the last quarter. Millennium Management LLC increased its position in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after acquiring an additional 262,315 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after acquiring an additional 249,483 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its position in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $235.14 on Friday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The business has a 50 day moving average price of $235.75 and a two-hundred day moving average price of $216.22. The firm has a market cap of $21.12 billion, a PE ratio of 27.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results 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. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Sell-side analysts expect that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.13%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’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 transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $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 have sold 33,300 shares of company stock valued at $8,064,152. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the topic of several research reports. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial raised their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $238.67.

Packaging Co. of America Company Profile

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.