Packaging Co. of America (NYSE:PKG) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lessened its holdings in Packaging Co. of America (NYSE:PKG) by 11.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,695 shares of the industrial products company’s stock after selling 1,411 shares during the quarter. iA Global Asset Management Inc.’s holdings in Packaging Co. of America were worth $2,030,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its position in Packaging Co. of America by 17.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,399 shares of the industrial products company’s stock valued at $2,672,000 after purchasing an additional 2,433 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Packaging Co. of America by 5.9% in the fourth quarter. State of Alaska Department of Revenue now owns 33,076 shares of the industrial products company’s stock worth $5,387,000 after buying an additional 1,855 shares during the last quarter. Essex Savings Bank grew its holdings in Packaging Co. of America by 4.0% during the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company’s stock worth $268,000 after acquiring an additional 63 shares during the period. LMG Wealth Partners LLC raised its position in Packaging Co. of America by 2.0% during the fourth quarter. LMG Wealth Partners LLC now owns 8,981 shares of the industrial products company’s stock valued at $1,463,000 after acquiring an additional 174 shares in the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in Packaging Co. of America in the fourth quarter valued at approximately $319,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the acquisition, the director now directly owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Karen E. Gowland bought 300 shares of Packaging Co. of America stock in a transaction on Wednesday, May 15th. The shares were bought at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the business’s 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 completion of the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

NYSE:PKG traded down $3.53 during trading hours on Friday, hitting $194.47. 193,451 shares of the stock were exchanged, compared to its average volume of 625,401. The firm’s fifty day moving average price is $186.00 and its 200 day moving average price is $180.23. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $201.99. The company has a market cap of $17.46 billion, a P/E ratio of 24.75, a P/E/G ratio of 5.22 and a beta of 0.77. 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 quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the business earned $2.31 earnings per share. The firm’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.62 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Bank of America raised their price objective 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. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Truist Financial lifted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, BNP Paribas downgraded 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. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.50.

Packaging Co. of America Company 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.