Allspring Global Investments Holdings LLC Boosts Stake in Packaging Co. of America (NYSE:PKG)

Allspring Global Investments Holdings LLC lifted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,431 shares of the industrial products company's stock after acquiring an additional 6,368 shares during the period. Allspring Global Investments Holdings LLC's holdings in Packaging Co. of America were worth $2,188,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PKG. National Bank of Canada FI raised its position in shares of Packaging Co. of America by 10.2% in the 3rd quarter. National Bank of Canada FI now owns 25,993 shares of the industrial products company's stock worth $3,982,000 after acquiring an additional 2,406 shares in the last quarter. CWM LLC grew its stake in Packaging Co. of America by 6.3% during the 3rd quarter. CWM LLC now owns 1,807 shares of the industrial products company's stock worth $277,000 after buying an additional 107 shares during the last quarter. AE Wealth Management LLC grew its stake in Packaging Co. of America by 249.9% during the 3rd quarter. AE Wealth Management LLC now owns 9,712 shares of the industrial products company's stock worth $1,491,000 after buying an additional 6,936 shares during the last quarter. Kentucky Retirement Systems purchased a new position in Packaging Co. of America during the 3rd quarter worth $1,072,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Packaging Co. of America during the 3rd quarter worth $479,000. 89.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Seaport Res Ptn downgraded Packaging Co. of America from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. Truist Financial boosted their target price 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. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. BNP Paribas downgraded 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 note on Friday, April 12th. Finally, Citigroup boosted their price target on Packaging Co. of America from $172.00 to $183.00 and gave the company a "neutral" rating in a research note on Thursday, April 4th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Hold" and a consensus price target of $171.29.

Packaging Co. of America Stock Performance

Shares of PKG traded down $0.60 during mid-day trading on Monday, reaching $179.29. The company had a trading volume of 662,795 shares, compared to its average volume of 689,028. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. 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 $16.09 billion, a P/E ratio of 21.22, a PEG ratio of 4.33 and a beta of 0.78. The stock has a 50 day moving average of $181.22 and a two-hundred day moving average of $167.69.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Monday, April 22nd. The industrial products company reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The company's revenue was up .2% compared to the same quarter last year. On average, analysts expect that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Announces Dividend

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

Insider Transactions at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, the vice president now owns 183,930 shares of the company's stock, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the 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 $8,478,319.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 over the last quarter. 1.70% of the stock is currently owned by insiders.

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.