Asset Management One Co. Ltd. Buys 7,066 Shares of Packaging Co. of America (NYSE:PKG)

Asset Management One Co. Ltd. lifted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,768 shares of the industrial products company's stock after buying an additional 7,066 shares during the period. Asset Management One Co. Ltd.'s holdings in Packaging Co. of America were worth $7,149,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Packaging Co. of America in the third quarter worth about $25,000. Clear Street Markets LLC grew its stake in shares of Packaging Co. of America by 94.6% in the first quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company's stock worth $25,000 after purchasing an additional 88 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth about $28,000. Anchor Investment Management LLC bought a new stake in shares of Packaging Co. of America in the fourth quarter worth about $37,000. Finally, Money Concepts Capital Corp grew its stake in shares of Packaging Co. of America by 60.0% in the fourth quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company's stock worth $34,000 after purchasing an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Wall Street Analyst Weigh In

PKG has been the topic of several recent analyst reports. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Monday, February 12th. Seaport Res Ptn cut Packaging Co. of America from a "buy" rating to a "neutral" rating in a research report on Monday, January 29th. Citigroup upped their target price on Packaging Co. of America from $172.00 to $183.00 and gave the stock a "neutral" rating in a report on Thursday, April 4th. Truist Financial upped their target price on Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a report on Thursday, January 4th. Finally, Bank of America upgraded Packaging Co. of America from a "neutral" rating to a "buy" rating and upped their target price for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $169.50.

Packaging Co. of America Stock Down 1.1 %

Shares of PKG stock traded down $2.04 during midday trading on Wednesday, reaching $187.82. 429,631 shares of the stock were exchanged, compared to its average volume of 673,470. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The firm has a market cap of $16.86 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 4.66 and a beta of 0.78. The company's 50 day moving average is $178.93 and its two-hundred day moving average is $166.19. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.30. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.35 EPS. On average, equities research analysts predict that Packaging Co. of America will post 8.18 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.66%. Packaging Co. of America's payout ratio is currently 58.96%.

Insider Buying and Selling

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 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 directly owns 187,647 shares of the company's stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock was sold at an average price of $182.51, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares in the company, valued at $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 90 days. Insiders own 1.70% of the company's stock.

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.