ING Groep NV Lowers Stock Position in Packaging Co. of America (NYSE:PKG)

ING Groep NV lessened its holdings in Packaging Co. of America (NYSE:PKG) by 89.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,570 shares of the industrial products company’s stock after selling 65,018 shares during the quarter. ING Groep NV’s holdings in Packaging Co. of America were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Packaging Co. of America in the 3rd quarter valued at approximately $25,000. First Horizon Advisors Inc. lifted its position in shares of Packaging Co. of America by 60.5% during the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at approximately $31,000. Anchor Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at approximately $37,000. Finally, Fortis Group Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 3rd quarter valued at approximately $46,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.2 %

Shares of PKG opened at $181.85 on Wednesday. The stock has a fifty day moving average of $181.93 and a two-hundred day moving average of $171.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The company has a market capitalization of $16.33 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 4.39 and a beta of 0.80. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $2.20 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts forecast that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.75%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Activity

In related news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction 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 sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several research reports. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup cut their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Finally, Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.57.

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.