Illinois Municipal Retirement Fund Purchases 2,692 Shares of Packaging Co. of America (NYSE:PKG)

Illinois Municipal Retirement Fund boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,977 shares of the industrial products company’s stock after acquiring an additional 2,692 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Packaging Co. of America worth $12,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PKG. Stifel Financial Corp boosted its holdings in Packaging Co. of America by 1,462.2% during the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after acquiring an additional 536,389 shares during the period. International Assets Investment Management LLC boosted its holdings in Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after acquiring an additional 155,142 shares during the period. Conning Inc. purchased a new stake in Packaging Co. of America during the 4th quarter valued at about $32,329,000. Two Sigma Advisers LP boosted its holdings in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after acquiring an additional 142,400 shares during the period. Finally, Mizuho Securities USA LLC boosted its holdings in Packaging Co. of America by 1,800.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after acquiring an additional 123,711 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. Truist Financial restated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Trading Up 1.5 %

PKG opened at $212.98 on Wednesday. The stock has a market cap of $19.13 billion, a PE ratio of 23.85, a PEG ratio of 2.41 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $223.15 and a 200-day moving average of $222.43. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

Insider Activity

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.70% of the stock is currently owned by company insiders.

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.