MBB Public Markets I LLC Purchases Shares of 5,806 Packaging Co. of America (NYSE:PKG)

MBB Public Markets I LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,806 shares of the industrial products company’s stock, valued at approximately $1,060,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PKG. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth about $25,000. Neo Ivy Capital Management acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $28,000. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the second quarter worth about $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth about $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG opened at $215.40 on Tuesday. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $217.69. The stock’s 50 day moving average is $203.31 and its two-hundred day moving average is $190.02. The firm has a market capitalization of $19.35 billion, a PE ratio of 26.93, a P/E/G ratio of 4.23 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the company earned $2.31 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts anticipate that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday. Truist Financial raised their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company raised their price target on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Citigroup raised their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday, July 8th. Finally, Bank of America raised 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. 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 data from MarketBeat, Packaging Co. of America has an average rating of “Hold” and a consensus target price of $190.50.

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.