Metis Global Partners LLC Increases Stock Position in Packaging Co. of America (NYSE:PKG)

Metis Global Partners LLC grew its holdings in Packaging Co. of America (NYSE:PKG) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,123 shares of the industrial products company’s stock after buying an additional 393 shares during the quarter. Metis Global Partners LLC’s holdings in Packaging Co. of America were worth $997,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Packaging Co. of America by 29.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,160 shares of the industrial products company’s stock valued at $4,478,000 after purchasing an additional 6,675 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of Packaging Co. of America by 16.7% in the 3rd quarter. Mackenzie Financial Corp now owns 20,733 shares of the industrial products company’s stock worth $3,145,000 after acquiring an additional 2,974 shares during the period. Strs Ohio raised its holdings in Packaging Co. of America by 7.7% during the third quarter. Strs Ohio now owns 38,210 shares of the industrial products company’s stock worth $5,867,000 after purchasing an additional 2,747 shares during the last quarter. IFM Investors Pty Ltd boosted its position in Packaging Co. of America by 3.0% during the third quarter. IFM Investors Pty Ltd now owns 19,068 shares of the industrial products company’s stock worth $2,928,000 after purchasing an additional 554 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Packaging Co. of America in the third quarter valued at $535,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Up 1.0 %

Shares of NYSE PKG opened at $180.38 on Friday. 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 capitalization of $16.19 billion, a PE ratio of 22.55, a P/E/G ratio of 4.29 and a beta of 0.80. The firm has a fifty day moving average of $182.43 and a 200-day moving average of $169.78. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.20 EPS. On average, analysts anticipate that Packaging Co. of America will post 8.21 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.77%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In other news, CFO Robert P. Mundy sold 10,000 shares of the company’s 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 directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was 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 of the company’s stock, valued at $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now owns 183,930 shares in the company, valued at $31,967,034. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PKG shares. Citigroup dropped their target price 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. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their target price for the company from $172.00 to $202.00 in a report on Monday, March 4th. Finally, Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.