Strs Ohio Lowers Position in Packaging Co. of America (NYSE:PKG)

Strs Ohio reduced its stake in Packaging Co. of America (NYSE:PKG) by 10.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 34,100 shares of the industrial products company’s stock after selling 4,110 shares during the quarter. Strs Ohio’s holdings in Packaging Co. of America were worth $5,555,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Packaging Co. of America by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 12,047,771 shares of the industrial products company’s stock valued at $1,880,777,000 after buying an additional 161,559 shares during the last quarter. BlackRock Inc. raised its position in Packaging Co. of America by 1.7% in the 1st quarter. BlackRock Inc. now owns 9,048,220 shares of the industrial products company’s stock valued at $1,256,164,000 after buying an additional 151,624 shares during the last quarter. State Street Corp raised its position in Packaging Co. of America by 16.8% in the 1st quarter. State Street Corp now owns 4,607,784 shares of the industrial products company’s stock valued at $645,404,000 after buying an additional 663,047 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Packaging Co. of America by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock valued at $335,772,000 after purchasing an additional 11,536 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Packaging Co. of America by 2.7% during the 1st quarter. Geode Capital Management LLC now owns 2,065,992 shares of the industrial products company’s stock valued at $286,214,000 after purchasing an additional 55,031 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research 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. Citigroup raised their target price on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. BNP Paribas lowered 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 report on Friday, April 12th. Finally, Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus target price of $171.29.

Packaging Co. of America Trading Down 0.2 %

Shares of PKG opened at $178.23 on Friday. The business has a 50-day moving average of $180.99 and a 200 day moving average of $167.30. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The firm has a market cap of $16.00 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 4.30 and a beta of 0.78. 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 announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.90 billion. During the same quarter last year, the firm posted $2.35 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, research analysts forecast that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.81%. Packaging Co. of America’s dividend payout ratio is currently 58.96%.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s 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 owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s 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 owns 183,930 shares in the company, valued at approximately $31,967,034. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America 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 sale, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock worth $6,799,177 in the last quarter. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Company Profile

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.