Packaging Co. of America (NYSE:PKG) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC trimmed its holdings in Packaging Co. of America (NYSE:PKGFree Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,482 shares of the industrial products company’s stock after selling 642 shares during the quarter. Lmcg Investments LLC’s holdings in Packaging Co. of America were worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Park Avenue Securities LLC bought a new stake in Packaging Co. of America during the third quarter worth approximately $535,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Packaging Co. of America by 30.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,063 shares of the industrial products company’s stock worth $1,085,000 after acquiring an additional 1,645 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in shares of Packaging Co. of America in the 3rd quarter worth $260,000. IRON Financial LLC purchased a new stake in shares of Packaging Co. of America during the third quarter valued at $203,000. Finally, Community Bank & Trust Waco Texas boosted its position in shares of Packaging Co. of America by 16.9% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 2,355 shares of the industrial products company’s stock valued at $362,000 after purchasing an additional 340 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the company. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. 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. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $173.57.

Check Out Our Latest Stock Analysis on PKG

Insider Transactions at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,041 shares of company stock valued at $6,799,177. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock traded up $0.39 during mid-day trading on Wednesday, reaching $182.03. The company’s stock had a trading volume of 633,868 shares, compared to its average volume of 673,899. 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 firm’s 50-day moving average is $182.28 and its two-hundred day moving average is $170.76. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The company has a market cap of $16.35 billion, a P/E ratio of 22.75, a PEG ratio of 4.39 and a beta of 0.80.

Packaging Co. of America (NYSE:PKGGet Free Report) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $2.20 EPS. Packaging Co. of America’s revenue was up .2% on a year-over-year basis. On average, research analysts predict that Packaging Co. of America will post 8.27 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.75%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Packaging Co. of America Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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