Ontario Teachers Pension Plan Board Purchases 6,816 Shares of Packaging Co. of America (NYSE:PKG)

Ontario Teachers Pension Plan Board grew its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 44.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,140 shares of the industrial products company's stock after purchasing an additional 6,816 shares during the period. Ontario Teachers Pension Plan Board's holdings in Packaging Co. of America were worth $3,607,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company's stock worth $335,772,000 after buying an additional 11,536 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Packaging Co. of America by 4.6% during the third quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company's stock valued at $205,389,000 after purchasing an additional 58,444 shares during the last quarter. Northern Trust Corp grew its holdings in Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company's stock valued at $177,323,000 after purchasing an additional 131,058 shares during the last quarter. Norges Bank bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at approximately $163,314,000. Finally, Boston Partners boosted its position in shares of Packaging Co. of America by 20.1% in the fourth quarter. Boston Partners now owns 968,816 shares of the industrial products company's stock valued at $157,836,000 after acquiring an additional 162,420 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

PKG has been the subject of several research reports. Bank of America raised Packaging Co. of America from a "neutral" rating to a "buy" rating and raised their target price for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday. Seaport Res Ptn downgraded shares of Packaging Co. of America from a "buy" rating to a "neutral" rating in a research note on Monday, January 29th. BNP Paribas downgraded shares of 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, Wells Fargo & Company upgraded shares of Packaging Co. of America from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $187.00 to $191.00 in a research note on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and an average target price of $173.57.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland purchased 300 shares of the business's stock in a transaction that occurred on Wednesday, May 15th. The stock was acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares of the company's stock, valued at approximately $166,766.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Karen E. Gowland acquired 300 shares of the company's stock in a transaction on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now owns 916 shares of the company's stock, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company's stock, valued at $33,975,365.82. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded down $1.06 on Thursday, hitting $180.24. The stock had a trading volume of 671,912 shares, compared to its average volume of 663,165. The firm's 50 day moving average price is $181.81 and its 200-day moving average price is $171.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a market capitalization of $16.19 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 7.77 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business had revenue of $1.98 billion during the quarter, compared to analysts' expectations of $1.91 billion. During the same period in the previous year, the business posted $2.20 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts predict that Packaging Co. of America will post 8.27 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.77%. Packaging Co. of America's dividend payout ratio is 62.50%.

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.