Packaging Co. of America (NYSE:PKG) Shares Acquired by Atwater Malick LLC

Atwater Malick LLC boosted its holdings in Packaging Co. of America (NYSE:PKG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,385 shares of the industrial products company’s stock after purchasing an additional 412 shares during the quarter. Packaging Co. of America makes up about 1.0% of Atwater Malick LLC’s investment portfolio, making the stock its 25th largest holding. Atwater Malick LLC’s holdings in Packaging Co. of America were worth $3,013,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Larson Financial Group LLC lifted its holdings in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Assetmark Inc. grew its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $64,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.9 %

PKG stock opened at $237.52 on Friday. The firm’s 50-day moving average is $235.69 and its two-hundred day moving average is $216.62. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. Packaging Co. of America has a 52 week low of $159.57 and a 52 week high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts forecast that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

Analyst Ratings Changes

A number of research firms recently issued reports on PKG. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Truist Financial upped their target price on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $238.67.

Insiders Place Their Bets

In other news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,300 shares of company stock worth $8,064,152. 1.70% of the stock is owned by corporate 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.