Packaging Co. of America (NYSE:PKG) Holdings Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in Packaging Co. of America (NYSE:PKG) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 162,578 shares of the industrial products company’s stock after purchasing an additional 486 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of Packaging Co. of America worth $26,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PKG. CENTRAL TRUST Co boosted its holdings in shares of Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company’s stock valued at $559,000 after acquiring an additional 62 shares in the last quarter. Scotia Capital Inc. boosted its holdings in shares of Packaging Co. of America by 1.2% in the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company’s stock valued at $791,000 after acquiring an additional 63 shares in the last quarter. Essex Savings Bank boosted its holdings in shares of Packaging Co. of America by 4.0% in the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock valued at $268,000 after acquiring an additional 63 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Packaging Co. of America by 0.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company’s stock valued at $2,736,000 after acquiring an additional 72 shares in the last quarter. Finally, Bangor Savings Bank boosted its holdings in shares of Packaging Co. of America by 1.4% in the fourth quarter. Bangor Savings Bank now owns 5,151 shares of the industrial products company’s stock valued at $839,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Up 0.7 %

Shares of NYSE:PKG opened at $174.18 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The company has a market cap of $15.63 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 4.21 and a beta of 0.80. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The firm has a 50 day simple moving average of $182.17 and a 200 day simple moving average of $168.74.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.20 EPS. As a group, research analysts expect that Packaging Co. of America will post 8.21 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.87%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analysts Forecast Growth

PKG has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Hold” and an average target price of $173.57.

Packaging Co. of America Company Profile

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.