Linden Thomas Advisory Services LLC Boosts Stake in Packaging Co. of America (NYSE:PKG)

Linden Thomas Advisory Services LLC raised its position in shares of Packaging Co. of America (NYSE:PKG) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,581 shares of the industrial products company’s stock after acquiring an additional 186 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Packaging Co. of America were worth $1,256,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the third quarter worth about $32,000. Larson Financial Group LLC boosted its position in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the period. Fortitude Family Office LLC boosted its position in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Assetmark Inc. boosted its position in shares of Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in shares of Packaging Co. of America in the third quarter worth about $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.4 %

Shares of NYSE PKG opened at $240.08 on Friday. The stock’s 50 day moving average price is $235.85 and its two-hundred day moving average price is $219.03. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82. The stock has a market capitalization of $21.56 billion, a P/E ratio of 27.98, a PEG ratio of 2.36 and a beta of 0.79. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 over the last quarter. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America 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.