Lmcg Investments LLC Purchases 344 Shares of Packaging Co. of America (NYSE:PKG)

Lmcg Investments LLC increased its position in shares of Packaging Co. of America (NYSE:PKG) by 0.5% in the second quarter, Holdings Channel.com reports. The firm owned 68,777 shares of the industrial products company’s stock after purchasing an additional 344 shares during the quarter. Lmcg Investments LLC’s holdings in Packaging Co. of America were worth $12,556,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in Packaging Co. of America during the 1st quarter valued at about $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at about $28,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after buying an additional 112 shares during the last quarter. Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America during the second quarter worth $33,000. Finally, Headlands Technologies LLC acquired a new position in shares of Packaging Co. of America in the 1st quarter valued at about $43,000. Institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,177,680.00. Following the completion of the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Packaging Co. of America Trading Up 2.0 %

NYSE PKG opened at $214.57 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average of $197.83 and a two-hundred day moving average of $187.92. The stock has a market capitalization of $19.27 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the firm posted $2.31 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. As a group, research analysts expect that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.33%. The ex-dividend date is Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Bank of America increased their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Truist Financial boosted their target price on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Citigroup raised their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $190.50.

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.