Cerity Partners LLC Lowers Stock Position in Packaging Co. of America (NYSE:PKG)

Cerity Partners LLC reduced its holdings in Packaging Co. of America (NYSE:PKG) by 94.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,413 shares of the industrial products company’s stock after selling 38,241 shares during the quarter. Cerity Partners LLC’s holdings in Packaging Co. of America were worth $393,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Packaging Co. of America during the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at $37,000. Fortis Group Advisors LLC purchased a new position in Packaging Co. of America during the 3rd quarter valued at about $46,000. BKM Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $49,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Packaging Co. of America in the third quarter valued at $53,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.9 %

PKG opened at $172.85 on Friday. The firm’s 50 day moving average is $181.92 and its 200-day moving average is $168.21. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $15.51 billion, a P/E ratio of 21.61, a P/E/G ratio of 4.22 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 EPS. Analysts expect that Packaging Co. of America will post 8.24 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last three months. 1.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BNP Paribas downgraded 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. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Truist Financial raised their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Citigroup decreased their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $187.00 to $191.00 in a report on Wednesday. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $173.57.

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.