Atria Wealth Solutions Inc. Increases Holdings in Packaging Co. of America (NYSE:PKG)

Atria Wealth Solutions Inc. raised its stake in shares of Packaging Co. of America (NYSE:PKGFree Report) by 66.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,628 shares of the industrial products company’s stock after buying an additional 2,252 shares during the period. Atria Wealth Solutions Inc.’s holdings in Packaging Co. of America were worth $920,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alaska Permanent Fund Corp raised its stake in 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 valued at $8,041,000 after buying an additional 395 shares during the last quarter. NewSquare Capital LLC raised its stake in 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 valued at $8,318,000 after buying an additional 429 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Packaging Co. of America during the 4th quarter valued at $134,000. Linden Thomas Advisory Services LLC raised its stake in Packaging Co. of America by 6.5% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 10,297 shares of the industrial products company’s stock valued at $1,677,000 after buying an additional 624 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in Packaging Co. of America by 58.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 68,432 shares of the industrial products company’s stock valued at $11,148,000 after buying an additional 25,115 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.7 %

Shares of PKG stock opened at $175.40 on Friday. Packaging Co. of America has a 52-week low of $122.20 and a 52-week high of $191.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.77 and a current ratio of 2.57. The firm has a market capitalization of $15.74 billion, a PE ratio of 21.93, a PEG ratio of 4.24 and a beta of 0.80. The stock has a fifty day simple moving average of $182.22 and a two-hundred day simple moving average of $168.77.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The business’s revenue was up .2% on a year-over-year basis. On average, analysts predict that Packaging Co. of America will post 8.21 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 in the last 90 days. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Citigroup reduced their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, Truist Financial upped their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.57.

View Our Latest Stock Report on Packaging Co. of America

About Packaging Co. of America

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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