International Assets Investment Management LLC Purchases 30,145 Shares of Packaging Co. of America (NYSE:PKG)

International Assets Investment Management LLC raised its position in Packaging Co. of America (NYSE:PKG) by 19,323.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,301 shares of the industrial products company’s stock after buying an additional 30,145 shares during the quarter. International Assets Investment Management LLC’s holdings in Packaging Co. of America were worth $4,936,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PKG shares. BNP Paribas cut 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. Citigroup reduced their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, Seaport Res Ptn cut Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Price Performance

PKG opened at $178.43 on Thursday. The stock has a 50-day moving average price of $182.45 and a 200-day moving average price of $169.70. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. 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 stock has a market capitalization of $16.01 billion, a P/E ratio of 22.30, a PEG ratio of 4.29 and a beta of 0.80.

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, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business earned $2.20 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts predict that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.80%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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 stock was 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 filing with the SEC, which is available at this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction that occurred on 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 owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction that occurred on 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 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. In the last quarter, insiders sold 38,041 shares of company stock valued at $6,799,177. Insiders own 1.70% of the company’s stock.

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.