Carnegie Capital Asset Management LLC Lowers Holdings in Packaging Co. of America (NYSE:PKG)

Carnegie Capital Asset Management LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 29.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,240 shares of the industrial products company's stock after selling 4,352 shares during the period. Carnegie Capital Asset Management LLC's holdings in Packaging Co. of America were worth $1,668,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PKG. CENTRAL TRUST Co lifted its holdings in shares of Packaging Co. of America by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 3,429 shares of the industrial products company's stock worth $559,000 after acquiring an additional 62 shares during the last quarter. Scotia Capital Inc. lifted its holdings in shares of Packaging Co. of America by 1.2% in the third quarter. Scotia Capital Inc. now owns 5,152 shares of the industrial products company's stock worth $791,000 after acquiring an additional 63 shares during the last quarter. Essex Savings Bank lifted its holdings in shares of Packaging Co. of America by 4.0% in the fourth quarter. Essex Savings Bank now owns 1,643 shares of the industrial products company's stock worth $268,000 after acquiring an additional 63 shares during the last quarter. State of Wyoming lifted its holdings in shares of Packaging Co. of America by 33.3% in the second quarter. State of Wyoming now owns 284 shares of the industrial products company's stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in shares of Packaging Co. of America by 0.4% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,793 shares of the industrial products company's stock worth $2,736,000 after acquiring an additional 72 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction 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 sale, the chief financial officer now directly 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 the SEC website. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of 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 can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business's stock in a transaction dated 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 disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last ninety days. Company insiders own 1.70% of the company's stock.

Packaging Co. of America Stock Down 0.5 %

NYSE:PKG traded down $0.83 during trading hours on Tuesday, hitting $179.53. 663,270 shares of the company traded hands, compared to its average volume of 666,518. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The firm's 50-day simple moving average is $180.50 and its 200-day simple moving average is $167.14. Packaging Co. of America has a one year low of $122.20 and a one year high of $191.27. The company has a market cap of $16.11 billion, a PE ratio of 21.17, a PEG ratio of 4.38 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.30. The company had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.35 EPS. Equities analysts predict that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America's payout ratio is 58.96%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PKG shares. Citigroup raised their price objective on shares of Packaging Co. of America from $172.00 to $183.00 and gave the company a "neutral" rating in a report on Thursday, April 4th. Truist Financial raised their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a research report on Thursday, January 4th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Thursday, April 11th. Bank of America raised shares of Packaging Co. of America from a "neutral" rating to a "buy" rating and lifted their price target for the company from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas downgraded shares of Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price target for the company. in a research report on Friday. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $171.29.

Packaging Co. of America 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.