Forum Financial Management LP Makes New Investment in Packaging Co. of America (NYSE:PKG)

Forum Financial Management LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,159 shares of the industrial products company’s stock, valued at approximately $212,000.

Other large investors have also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Packaging Co. of America during the 1st quarter valued at approximately $25,000. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $28,000. First Horizon Advisors Inc. grew its holdings in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. bought a new stake in Packaging Co. of America in the fourth quarter worth $31,000. Finally, Headlands Technologies LLC purchased a new stake in Packaging Co. of America during the first quarter valued at $43,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Trading Up 1.4 %

PKG opened at $209.54 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a market cap of $18.82 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 5.41 and a beta of 0.77. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $210.11. The stock has a fifty day moving average price of $192.42 and a 200-day moving average price of $185.15.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the topic of several analyst reports. Truist Financial increased their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America increased their price target on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday. Citigroup upped their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Finally, Wells Fargo & Company boosted their target price on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America has an average rating of “Hold” and a consensus price target of $190.50.

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.