Assenagon Asset Management S.A. Buys 207,244 Shares of Packaging Corporation of America $PKG

Key Points

• Assenagon Asset Management S.A. increased its stake in Packaging Corporation of America by 377.1%, owning approximately $49.41 million worth of shares as of their latest SEC filing.
• Packaging Corporation of America recently declared a $1.25 quarterly dividend, resulting in an annualized dividend of $5.00 and a dividend yield of 2.4%.
• The company reported $2.48 earnings per share for the last quarter, surpassing forecasts, with a net margin of 10.47% and revenue of $2.17 billion.

Assenagon Asset Management S.A. grew its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 377.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,203 shares of the industrial products company's stock after purchasing an additional 207,244 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.29% of Packaging Corporation of America worth $49,412,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new stake in Packaging Corporation of America during the 1st quarter valued at $2,127,000. Sowell Financial Services LLC acquired a new stake in Packaging Corporation of America during the 1st quarter worth about $309,000. Wealth Enhancement Advisory Services LLC lifted its stake in Packaging Corporation of America by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock valued at $5,671,000 after buying an additional 1,531 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Packaging Corporation of America by 718.0% during the 1st quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock worth $1,997,000 after buying an additional 8,853 shares during the last quarter. Finally, First United Bank & Trust purchased a new position in Packaging Corporation of America in the 1st quarter valued at approximately $289,000. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Stock Up 0.3%

Shares of NYSE PKG traded up $0.54 during mid-day trading on Tuesday, hitting $213.25. The company had a trading volume of 124,654 shares, compared to its average volume of 841,239. The business's 50-day simple moving average is $205.90 and its 200 day simple moving average is $196.76. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.54 and a quick ratio of 2.32. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82. The company has a market capitalization of $19.19 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.84 and a beta of 0.87.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.18 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.47%.Packaging Corporation of America's revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Packaging Corporation of America has set its Q3 2025 guidance at 2.800-2.800 EPS. On average, analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.25 per share. The ex-dividend date is Monday, September 15th. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. Packaging Corporation of America's payout ratio is presently 49.90%.

Insider Buying and Selling

In related news, CEO Mark W. Kowlzan sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the transaction, the chief executive officer directly owned 437,378 shares in the company, valued at $94,460,526.66. This represents a 5.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PKG shares. Wells Fargo & Company upped their price objective on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. UBS Group increased their price objective on shares of Packaging Corporation of America from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Jefferies Financial Group downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their price target for the company from $245.00 to $205.00 in a report on Monday, June 16th. Citigroup boosted their price target on Packaging Corporation of America from $197.00 to $214.00 and gave the stock a "neutral" rating in a report on Friday, July 25th. Finally, Truist Financial lifted their price target on Packaging Corporation of America from $238.00 to $262.00 and gave the company a "buy" rating in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $220.20.

About Packaging Corporation of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.