First Trust Direct Indexing L.P. Grows Holdings in Packaging Co. of America (NYSE:PKG)

First Trust Direct Indexing L.P. lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 33.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,253 shares of the industrial products company’s stock after buying an additional 561 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Packaging Co. of America were worth $367,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Boston Partners acquired a new position in Packaging Co. of America in the 3rd quarter valued at $123,821,000. Retirement Systems of Alabama increased its stake in Packaging Co. of America by 1,133.4% in the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after purchasing an additional 230,422 shares during the last quarter. Northern Trust Corp lifted its position in Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after buying an additional 131,058 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Packaging Co. of America in the 4th quarter worth about $16,338,000. Finally, Atlas FRM LLC grew its holdings in Packaging Co. of America by 17.9% in the 3rd quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock valued at $70,633,000 after buying an additional 70,000 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity

In other news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. 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. In the last three months, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $176.15 on Tuesday. The company has a market cap of $15.81 billion, a P/E ratio of 22.02, a PEG ratio of 4.29 and a beta of 0.80. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The business’s 50-day simple moving average is $182.32 and its 200 day simple moving average is $169.40. 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 posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The company 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 business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. On average, sell-side analysts forecast that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Analysts Set New Price Targets

PKG has been the topic of several recent analyst reports. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 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, April 25th. Finally, Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America presently has an average rating of “Hold” and a consensus price target of $173.57.

Packaging Co. of America 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.