Ascent Group LLC Invests $1.29 Million in Packaging Co. of America (NYSE:PKG)

Ascent Group LLC acquired a new position in Packaging Co. of America (NYSE:PKG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,797 shares of the industrial products company’s stock, valued at approximately $1,290,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America during the first quarter valued at $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America during the fourth quarter valued at $28,000. First Horizon Advisors Inc. grew its position in Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after buying an additional 69 shares during the period. Gables Capital Management Inc. acquired a new stake in Packaging Co. of America during the fourth quarter valued at $31,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America during the first quarter valued at $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was 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 directly owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was 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 directly owns 916 shares in the company, valued at $166,766.96. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup lifted their target price on shares of Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Finally, Truist Financial lifted their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.50.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded up $0.92 during midday trading on Tuesday, hitting $199.32. The company’s stock had a trading volume of 55,378 shares, compared to its average volume of 625,392. The business’s 50 day simple moving average is $184.95 and its 200 day simple moving average is $179.75. 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 cap of $17.90 billion, a P/E ratio of 24.80, a price-to-earnings-growth ratio of 5.20 and a beta of 0.77. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $199.88.

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

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.