Seelaus Asset Management LLC Purchases 95 Shares of Packaging Co. of America (NYSE:PKG)

Seelaus Asset Management LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 2.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,780 shares of the industrial products company’s stock after buying an additional 95 shares during the quarter. Packaging Co. of America makes up 0.9% of Seelaus Asset Management LLC’s holdings, making the stock its 19th largest holding. Seelaus Asset Management LLC’s holdings in Packaging Co. of America were worth $1,030,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in shares of Packaging Co. of America in the first quarter valued at about $43,000. Bleakley Financial Group LLC bought a new position in Packaging Co. of America in the 1st quarter worth approximately $215,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Packaging Co. of America by 20.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,020 shares of the industrial products company’s stock worth $20,310,000 after purchasing an additional 18,058 shares during the period. First Foundation Advisors grew its holdings in Packaging Co. of America by 9.1% during the 1st quarter. First Foundation Advisors now owns 1,961 shares of the industrial products company’s stock valued at $372,000 after buying an additional 164 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after buying an additional 21,143 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PKG shares. Citigroup upped their target price on shares of 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. Truist Financial reissued a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Stock Performance

Shares of NYSE:PKG opened at $235.81 on Friday. 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 fifty day simple moving average of $221.23 and a two-hundred day simple moving average of $199.93. The stock has a market capitalization of $21.18 billion, a P/E ratio of 27.48, a PEG ratio of 3.35 and a beta of 0.76.

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

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

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.