Packaging Co. of America (NYSE:PKG) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,300 shares of the industrial products company’s stock after selling 100 shares during the period. New Mexico Educational Retirement Board’s holdings in Packaging Co. of America were worth $968,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Stifel Financial Corp lifted its position in shares of Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after purchasing an additional 536,389 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Conning Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter worth about $32,329,000. Two Sigma Advisers LP lifted its position in shares of Packaging Co. of America by 218.1% during the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Finally, Mizuho Securities USA LLC lifted its position in shares of Packaging Co. of America by 1,800.2% during the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock worth $28,128,000 after purchasing an additional 123,711 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Up 0.2 %

Shares of NYSE:PKG opened at $212.54 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $165.20 and a 12-month high of $250.82. The firm has a fifty day moving average of $226.33 and a two-hundred day moving average of $221.75. The firm has a market capitalization of $19.09 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities analysts expect that Packaging Co. of America will post 10.6 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.35%. Packaging Co. of America’s payout ratio is 55.99%.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.