Foundry Partners LLC Sells 5,150 Shares of Packaging Co. of America (NYSE:PKG)

Foundry Partners LLC lowered its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,665 shares of the industrial products company's stock after selling 5,150 shares during the quarter. Foundry Partners LLC's holdings in Packaging Co. of America were worth $6,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Packaging Co. of America in the third quarter worth about $25,000. Clear Street Markets LLC boosted its holdings in 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 acquiring an additional 88 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter worth about $28,000. Money Concepts Capital Corp boosted its holdings in 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 acquiring an additional 99 shares in the last quarter. Finally, Anchor Investment Management LLC acquired a new stake in Packaging Co. of America in the fourth quarter worth about $37,000. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PKG shares. Seaport Res Ptn downgraded Packaging Co. of America from a "buy" rating to a "neutral" rating in a report on Monday, January 29th. Bank of America raised Packaging Co. of America from a "neutral" rating to a "buy" rating and raised their price target for the stock from $172.00 to $202.00 in a report on Monday, March 4th. BNP Paribas cut Packaging Co. of America from an "outperform" rating to a "neutral" rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Citigroup raised their price objective on Packaging Co. of America from $172.00 to $183.00 and gave the stock a "neutral" rating in a research note on Thursday, April 4th. Finally, Truist Financial raised their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a "buy" rating in a research note on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $171.29.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the transaction, the vice president now directly owns 183,930 shares in the company, valued at $31,967,034. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Robert P. Mundy sold 10,000 shares of the business'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 completion of the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now owns 183,930 shares of the company's stock, valued at $31,967,034. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG traded up $1.64 during trading on Friday, hitting $179.89. The stock had a trading volume of 2,529,184 shares, compared to its average volume of 479,500. The stock has a 50-day simple moving average of $181.22 and a two-hundred day simple moving average of $167.69. 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 stock has a market capitalization of $16.15 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.30. The company had revenue of $1.94 billion during 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%. Packaging Co. of America's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business earned $2.35 earnings per share. On average, equities research analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America's dividend payout ratio is currently 58.96%.

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.

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Co. of America (NYSE:PKG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.