3,126 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,126 shares of the industrial products company’s stock, valued at approximately $509,000.

A number of other hedge funds have also recently bought and sold shares of the company. Tobam acquired a new stake in Packaging Co. of America during the fourth quarter worth approximately $58,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Packaging Co. of America by 90.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after purchasing an additional 6,368 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Packaging Co. of America by 19,323.7% in the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 30,145 shares during the last quarter. Peoples Bank OH acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at $202,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Packaging Co. of America by 6.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 14,787 shares of the industrial products company’s stock valued at $2,409,000 after acquiring an additional 900 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

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 shares were 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 of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 in the last ninety days. Insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PKG shares. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Citigroup boosted their target price on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. Bank of America raised shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their target price for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $171.29.

Packaging Co. of America Price Performance

NYSE:PKG opened at $179.53 on Wednesday. The company has a 50-day moving average of $180.50 and a 200-day moving average of $167.14. The company has a market capitalization of $16.11 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 4.38 and a beta of 0.78. Packaging Co. of America has a 52 week low of $122.20 and a 52 week high of $191.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57.

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

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 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.