NewSquare Capital LLC Increases Stock Position in Packaging Co. of America (NYSE:PKG)

NewSquare Capital LLC boosted its stake in Packaging Co. of America (NYSE:PKG) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 51,755 shares of the industrial products company’s stock after buying an additional 429 shares during the quarter. NewSquare Capital LLC’s holdings in Packaging Co. of America were worth $8,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PKG. Boston Partners acquired a new position in Packaging Co. of America in the third quarter valued at $123,821,000. Northern Trust Corp increased its stake in Packaging Co. of America by 12.8% in the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock valued at $177,323,000 after purchasing an additional 131,058 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Packaging Co. of America in the fourth quarter valued at $16,338,000. Atlas FRM LLC increased its stake in Packaging Co. of America by 17.9% in the third quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock valued at $70,633,000 after purchasing an additional 70,000 shares during the period. Finally, ING Groep NV increased its stake in Packaging Co. of America by 465.0% in the third quarter. ING Groep NV now owns 72,588 shares of the industrial products company’s stock valued at $11,146,000 after purchasing an additional 59,741 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Packaging Co. of America

In related news, 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 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 $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 10,000 shares of the company’s 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 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. Insiders have sold 38,041 shares of company stock valued at $6,799,177 over the last quarter. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

PKG traded down $8.41 on Tuesday, hitting $170.88. 1,435,498 shares of the company were exchanged, compared to its average volume of 698,924. Packaging Co. of America has a fifty-two week low of $122.20 and a fifty-two week high of $191.27. The firm has a market capitalization of $15.34 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The business’s fifty day moving average is $181.56 and its 200 day moving average is $168.02.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PKG. Truist Financial lifted their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $171.29.

About Packaging Co. of America

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.