Russell Investments Group Ltd. Buys 486 Shares of Packaging Co. of America (NYSE:PKG)

Russell Investments Group Ltd. grew its stake in Packaging Co. of America (NYSE:PKG) by 0.3% in the fourth quarter, HoldingsChannel reports. The fund owned 162,578 shares of the industrial products company’s stock after acquiring an additional 486 shares during the period. Russell Investments Group Ltd.’s holdings in Packaging Co. of America were worth $26,491,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Bahl & Gaynor Inc. raised its stake in shares of Packaging Co. of America by 18.1% in the fourth quarter. Bahl & Gaynor Inc. now owns 122,399 shares of the industrial products company’s stock worth $19,940,000 after acquiring an additional 18,774 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Packaging Co. of America by 12.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,101 shares of the industrial products company’s stock worth $342,000 after buying an additional 233 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Packaging Co. of America by 66.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 5,628 shares of the industrial products company’s stock worth $920,000 after buying an additional 2,252 shares during the period. Alaska Permanent Fund Corp grew its position in shares of Packaging Co. of America by 0.8% during the 4th quarter. Alaska Permanent Fund Corp now owns 49,359 shares of the industrial products company’s stock worth $8,041,000 after buying an additional 395 shares during the period. Finally, NewSquare Capital LLC grew its position in shares of Packaging Co. of America by 0.8% during the 4th quarter. NewSquare Capital LLC now owns 51,755 shares of the industrial products company’s stock worth $8,318,000 after buying an additional 429 shares during the period. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Up 0.7 %

Shares of NYSE PKG opened at $174.18 on Thursday. The stock has a market cap of $15.63 billion, a P/E ratio of 21.77, a P/E/G ratio of 4.21 and a beta of 0.80. The firm has a 50 day moving average price of $182.17 and a 200 day moving average price of $168.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 earnings per share. Analysts expect that Packaging Co. of America will post 8.21 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

PKG has been the subject of several analyst reports. Citigroup lowered their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target for the company. in a research report on Friday, April 12th. Truist Financial lifted their price target on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $173.57.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.60% of the stock is currently owned by corporate insiders.

About Packaging Co. of America

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.