International Assets Investment Management LLC Grows Position in Packaging Co. of America (NYSE:PKG)

International Assets Investment Management LLC grew its stake in shares of Packaging Co. of America (NYSE:PKG) by 19,323.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 30,301 shares of the industrial products company’s stock after buying an additional 30,145 shares during the quarter. International Assets Investment Management LLC’s holdings in Packaging Co. of America were worth $4,936,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America during the third quarter valued at approximately $25,000. Clear Street Markets LLC boosted its stake in shares of Packaging Co. of America by 94.6% during the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 88 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $28,000. Money Concepts Capital Corp boosted its stake in shares of Packaging Co. of America by 60.0% during the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 99 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at $8,478,319.54. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock worth $6,799,177 over the last three months. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Citigroup raised their price target on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. 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. Finally, Truist Financial raised their price target on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $171.29.

Packaging Co. of America Price Performance

PKG opened at $180.36 on Tuesday. The stock has a fifty day simple moving average of $180.17 and a two-hundred day simple moving average of $166.96. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.19 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 4.38 and a beta of 0.78. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.35 earnings per share. Research analysts predict that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.77%. Packaging Co. of America’s payout ratio is presently 58.96%.

About Packaging Co. of America

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.