Insider Buying: Packaging Co. of America (NYSE:PKG) Director Purchases 500 Shares of Stock

Packaging Co. of America (NYSE:PKGGet Rating) Director Donna A. Harman bought 500 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was bought at an average cost of $153.21 per share, with a total value of $76,605.00. Following the completion of the purchase, the director now directly owns 2,725 shares in the company, valued at $417,497.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

PKG stock traded up $3.45 during mid-day trading on Thursday, reaching $156.79. The company had a trading volume of 7,294 shares, compared to its average volume of 692,654. The firm has a fifty day simple moving average of $157.65 and a 200 day simple moving average of $145.74. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.99 and a current ratio of 2.96. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.58 and a beta of 0.76. Packaging Co. of America has a fifty-two week low of $124.78 and a fifty-two week high of $168.50.

Packaging Co. of America (NYSE:PKGGet Rating) last released its earnings results on Monday, April 25th. The industrial products company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.19. Packaging Co. of America had a net margin of 11.50% and a return on equity of 27.11%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the firm earned $1.77 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 11.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.19%. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $1.00. The ex-dividend date is Tuesday, June 14th. Packaging Co. of America’s dividend payout ratio is presently 40.90%.

A number of analysts have issued reports on PKG shares. Seaport Res Ptn raised Packaging Co. of America from a “neutral” rating to a “buy” rating in a research note on Friday, January 28th. Zacks Investment Research raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating and set a $172.00 target price for the company in a research note on Wednesday, February 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on Packaging Co. of America from $141.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, April 18th. UBS Group upgraded shares of Packaging Co. of America from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $127.00 to $154.00 in a research note on Thursday, February 17th. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $154.00 to $162.00 in a research note on Thursday, April 28th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $165.86.

Hedge funds have recently added to or reduced their stakes in the stock. Mascoma Wealth Management LLC purchased a new position in Packaging Co. of America in the first quarter valued at approximately $25,000. Quent Capital LLC purchased a new position in Packaging Co. of America in the first quarter valued at approximately $29,000. Avondale Wealth Management purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Packaging Co. of America during the first quarter worth approximately $31,000. Finally, Confluence Wealth Services Inc. purchased a new position in shares of Packaging Co. of America during the fourth quarter worth approximately $27,000. Hedge funds and other institutional investors own 91.01% of the company’s stock.

Packaging Co. of America Company Profile (Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. 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.

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