Mutual of America Capital Management LLC Lowers Stock Holdings in Packaging Co. of America (NYSE:PKG)

Mutual of America Capital Management LLC trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 58.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 11,999 shares of the industrial products company’s stock after selling 16,720 shares during the period. Mutual of America Capital Management LLC’s holdings in Packaging Co. of America were worth $1,955,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new position in Packaging Co. of America in the 3rd quarter worth approximately $25,000. Clear Street Markets LLC raised its holdings in Packaging Co. of America by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 88 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in Packaging Co. of America in the 4th quarter worth approximately $28,000. Money Concepts Capital Corp raised its holdings in Packaging Co. of America by 60.0% in the 4th quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 99 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new position in Packaging Co. of America in the 4th quarter worth approximately $37,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PKG has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Truist Financial lifted their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Seaport Res Ptn downgraded shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $171.29.

Packaging Co. of America Trading Up 0.9 %

NYSE:PKG opened at $179.89 on Friday. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27. The company has a 50 day simple moving average of $181.22 and a two-hundred day simple moving average of $167.59. 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 $16.15 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 4.29 and a beta of 0.78.

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

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s payout ratio is 58.96%.

Insider Activity

In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction on 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 owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 in the last 90 days. Company insiders own 1.60% of the company’s stock.

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.