Paloma Partners Management Co Takes $669,000 Position in Packaging Co. of America (NYSE:PKG)

Paloma Partners Management Co bought a new stake in Packaging Co. of America (NYSE:PKG) in the first quarter, Holdings Channel.com reports. The firm bought 3,527 shares of the industrial products company’s stock, valued at approximately $669,000.

Other hedge funds have also modified their holdings of the company. Register Financial Advisors LLC purchased a new stake in shares of Packaging Co. of America in the first quarter valued at about $25,000. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $28,000. First Horizon Advisors Inc. grew its holdings in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Gables Capital Management Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $31,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America in the first quarter valued at about $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were purchased at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the transaction, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares in the company, valued at $4,077,128.16. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 0.3 %

NYSE:PKG traded down $0.60 during mid-day trading on Monday, hitting $198.40. The stock had a trading volume of 390,316 shares, compared to its average volume of 629,350. The stock has a 50-day simple moving average of $184.95 and a two-hundred day simple moving average of $179.75. The company has a market capitalization of $17.82 billion, a PE ratio of 24.80, a PEG ratio of 5.20 and a beta of 0.77. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $199.60. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.31 earnings per share. On average, equities research analysts anticipate that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.52%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PKG shares. Wells Fargo & Company upped their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial increased their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America increased their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Citigroup increased 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. Finally, BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a research note on Friday, April 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

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.