Altrius Capital Management Inc Raises Stock Position in Packaging Co. of America (NYSE:PKG)

Altrius Capital Management Inc grew its position in Packaging Co. of America (NYSE:PKG) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,055 shares of the industrial products company’s stock after buying an additional 272 shares during the period. Altrius Capital Management Inc’s holdings in Packaging Co. of America were worth $3,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PKG. Korea Investment CORP grew its holdings in shares of Packaging Co. of America by 5.3% during the 1st quarter. Korea Investment CORP now owns 37,450 shares of the industrial products company’s stock worth $5,199,000 after purchasing an additional 1,893 shares during the period. Barclays PLC raised its stake in shares of Packaging Co. of America by 141.6% in the 2nd quarter. Barclays PLC now owns 270,926 shares of the industrial products company’s stock valued at $35,805,000 after acquiring an additional 158,780 shares during the period. Juncture Wealth Strategies LLC lifted its holdings in shares of Packaging Co. of America by 3.9% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 2,598 shares of the industrial products company’s stock worth $343,000 after acquiring an additional 98 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of Packaging Co. of America by 55.5% in the 2nd quarter. Achmea Investment Management B.V. now owns 14,230 shares of the industrial products company’s stock worth $1,881,000 after acquiring an additional 5,077 shares during the last quarter. Finally, Toroso Investments LLC boosted its position in shares of Packaging Co. of America by 8.6% during the 1st quarter. Toroso Investments LLC now owns 25,729 shares of the industrial products company’s stock worth $3,572,000 after purchasing an additional 2,041 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PKG shares. Truist Financial raised their price target on Packaging Co. of America from $156.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Jefferies Financial Group reduced their price target on shares of Packaging Co. of America from $142.00 to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, October 18th. Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $122.00 to $137.00 in a report on Thursday, July 27th. Citigroup increased their target price on shares of Packaging Co. of America from $150.00 to $158.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.83.

Insiders Place Their Bets

In related news, Director Paul T. Stecko sold 9,737 shares of the company’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $153.99, for a total value of $1,499,400.63. Following the completion of the sale, the director now directly owns 18,765 shares of the company’s stock, valued at approximately $2,889,622.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Kent A. Pflederer sold 4,000 shares of Packaging Co. of America stock in a transaction on Monday, October 30th. The shares were sold at an average price of $150.93, for a total value of $603,720.00. Following the transaction, the senior vice president now directly owns 54,447 shares in the company, valued at approximately $8,217,685.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul T. Stecko sold 9,737 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $153.99, for a total transaction of $1,499,400.63. Following the transaction, the director now owns 18,765 shares of the company’s stock, valued at approximately $2,889,622.35. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 2.8 %

NYSE:PKG traded down $4.36 during trading hours on Monday, hitting $150.95. The company’s stock had a trading volume of 263,688 shares, compared to its average volume of 648,726. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $159.25. The company has a current ratio of 2.17, a quick ratio of 1.40 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $13.53 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 3.72 and a beta of 0.83. The stock has a fifty day moving average of $152.19 and a 200-day moving average of $143.00.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.13. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Packaging Co. of America had a return on equity of 21.30% and a net margin of 10.04%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.83 earnings per share. On average, equities analysts forecast that Packaging Co. of America will post 8.35 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Monday, September 25th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $5.00 annualized dividend and a yield of 3.31%. Packaging Co. of America’s dividend payout ratio is presently 57.54%.

Packaging Co. of America Profile

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.