OLD Second National Bank of Aurora Sells 59 Shares of Packaging Co. of America (NYSE:PKG)

OLD Second National Bank of Aurora trimmed its holdings in shares of Packaging Co. of America (NYSE:PKG) by 0.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,039 shares of the industrial products company’s stock after selling 59 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Packaging Co. of America were worth $2,162,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its holdings in shares of Packaging Co. of America by 1.5% during the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock worth $520,920,000 after purchasing an additional 41,903 shares during the period. Boston Partners increased its stake in Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares during the period. Dimensional Fund Advisors LP raised its holdings in Packaging Co. of America by 8.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after acquiring an additional 86,005 shares in the last quarter. Millennium Management LLC lifted its position in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after acquiring an additional 262,315 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Packaging Co. of America by 5.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock worth $164,985,000 after purchasing an additional 42,465 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Citigroup boosted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial restated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $239.81 on Wednesday. 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 has a 52 week low of $148.50 and a 52 week high of $245.00. The firm has a 50 day moving average of $219.25 and a 200-day moving average of $199.00. The company has a market cap of $21.54 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 3.39 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, equities analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is currently 58.28%.

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.