Hyman Charles D Boosts Position in Packaging Co. of America (NYSE:PKG)

Hyman Charles D lifted its position in Packaging Co. of America (NYSE:PKG) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,115 shares of the industrial products company’s stock after purchasing an additional 1,180 shares during the quarter. Hyman Charles D owned about 0.05% of Packaging Co. of America worth $7,513,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at approximately $25,000. First Horizon Advisors Inc. boosted its position in shares of Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after buying an additional 69 shares during the period. Anchor Investment Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at $37,000. Fortis Group Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $46,000. Finally, BKM Wealth Management LLC acquired a new position in Packaging Co. of America during the 4th quarter worth about $49,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’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 owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’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 owns 46,454 shares in the company, valued at approximately $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last quarter. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PKG shares. Citigroup decreased their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas lowered 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 report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.57.

Packaging Co. of America Stock Down 0.4 %

Shares of NYSE PKG traded down $0.72 during midday trading on Wednesday, hitting $178.43. 417,346 shares of the company’s stock were exchanged, compared to its average volume of 685,953. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a market cap of $16.01 billion, a PE ratio of 22.39, a P/E/G ratio of 4.29 and a beta of 0.80. The firm’s fifty day simple moving average is $182.41 and its 200-day simple moving average is $169.64.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the company earned $2.20 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that Packaging Co. of America will post 8.21 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

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

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.