Wakefield Asset Management LLLP Buys Shares of 17,444 Packaging Co. of America (NYSE:PKG)

Wakefield Asset Management LLLP purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,444 shares of the industrial products company’s stock, valued at approximately $3,927,000. Packaging Co. of America accounts for about 1.3% of Wakefield Asset Management LLLP’s portfolio, making the stock its 21st largest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. SYM FINANCIAL Corp raised its stake in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares during the period. Mather Group LLC. lifted its holdings in Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. grew its position in Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 44 shares during the period. Deseret Mutual Benefit Administrators grew its position in Packaging Co. of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 49 shares during the period. Finally, AlphaMark Advisors LLC increased its stake in Packaging Co. of America by 3.9% during 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 Stock Down 1.0 %

Packaging Co. of America stock opened at $210.72 on Friday. The firm has a market capitalization of $18.92 billion, a P/E ratio of 23.60, a P/E/G ratio of 2.41 and a beta of 0.77. The stock’s fifty day simple moving average is $222.48 and its 200-day simple moving average is $222.28. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. Packaging Co. of America’s payout ratio is 55.99%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Truist Financial restated a “buy” rating and set a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.

About Packaging Co. of America

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.