O Shaughnessy Asset Management LLC Decreases Holdings in Packaging Co. of America (NYSE:PKG)

O Shaughnessy Asset Management LLC lowered its stake in Packaging Co. of America (NYSE:PKG) by 4.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,565 shares of the industrial products company’s stock after selling 2,132 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.05% of Packaging Co. of America worth $9,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FIL Ltd lifted its stake in shares of Packaging Co. of America by 2.6% in the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after purchasing an additional 55,000 shares during the last quarter. Northern Trust Corp lifted its position in Packaging Co. of America by 2.4% in the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock worth $192,689,000 after buying an additional 27,974 shares during the last quarter. Norges Bank bought a new position in Packaging Co. of America during the fourth quarter valued at $163,314,000. Boston Partners raised its stake in shares of Packaging Co. of America by 20.1% in the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after acquiring an additional 162,420 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Packaging Co. of America by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock worth $165,962,000 after purchasing an additional 5,842 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Stock Up 0.2 %

Shares of NYSE:PKG traded up $0.46 during trading on Wednesday, reaching $193.28. The stock had a trading volume of 892,152 shares, compared to its average volume of 628,320. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $17.36 billion, a P/E ratio of 24.15, a PEG ratio of 5.13 and a beta of 0.77. The firm’s 50-day simple moving average is $183.84 and its 200 day simple moving average is $178.92. Packaging Co. of America has a one year low of $143.82 and a one year high of $199.00.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.31 EPS. As a group, research analysts expect that Packaging Co. of America will post 8.5 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PKG shares. Truist Financial lifted their target price on Packaging Co. of America from $208.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Citigroup upped their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, Bank of America raised their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $186.33.

Packaging Co. of America 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.