Mn Services Vermogensbeheer B.V. Sells 1,600 Shares of Packaging Co. of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. reduced its holdings in Packaging Co. of America (NYSE:PKG) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,200 shares of the industrial products company’s stock after selling 1,600 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Co. of America were worth $6,712,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Packaging Co. of America in the third quarter worth about $25,000. Clear Street Markets LLC increased its holdings in shares of Packaging Co. of America by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 88 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth about $28,000. Money Concepts Capital Corp increased its holdings in shares of Packaging Co. of America by 60.0% in the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $37,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

PKG opened at $180.36 on Tuesday. The business has a 50 day moving average of $180.17 and a 200-day moving average of $166.96. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. 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 stock has a market cap of $16.19 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 4.38 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the company earned $2.35 EPS. The company’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.77%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, 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 available through this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the transaction, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of research reports. Truist Financial increased their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Citigroup increased their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $171.29.

About Packaging Co. of America

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.