Packaging Co. of America (NYSE:PKG) Shares Sold by Crestline Management LP

Crestline Management LP reduced its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 6.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,897 shares of the industrial products company's stock after selling 2,738 shares during the period. Crestline Management LP's holdings in Packaging Co. of America were worth $9,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SYM FINANCIAL Corp grew its position in shares of Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company's stock valued at $316,000 after purchasing an additional 42 shares during the last quarter. Mather Group LLC. lifted its stake in Packaging Co. of America by 1.7% in the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock valued at $582,000 after buying an additional 43 shares in the last quarter. UMB Bank n.a. grew its holdings in Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company's stock valued at $262,000 after buying an additional 44 shares during the last quarter. Atomi Financial Group Inc. increased its position in Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company's stock worth $370,000 after buying an additional 52 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company's stock worth $312,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Trading Down 1.1 %

Shares of PKG traded down $2.00 during mid-day trading on Friday, hitting $181.42. The company had a trading volume of 617,068 shares, compared to its average volume of 705,604. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82. The business's 50-day simple moving average is $190.72 and its 200-day simple moving average is $215.69. The stock has a market cap of $16.31 billion, a PE ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.76%. Packaging Co. of America's dividend payout ratio is presently 52.30%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PKG. Truist Financial decreased their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.