956 Shares in Packaging Co. of America (NYSE:PKG) Acquired by Coastline Trust Co

Coastline Trust Co purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 956 shares of the industrial products company’s stock, valued at approximately $206,000.

A number of other large investors have also recently bought and sold shares of the business. Deseret Mutual Benefit Administrators grew its stake 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 purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. grew its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after buying an additional 54 shares in the last quarter. Huntington National Bank grew its stake in shares of Packaging Co. of America by 0.5% in the third quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 55 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after buying an additional 56 shares during the period. Finally, Moors & Cabot Inc. raised its holdings in Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Citigroup raised 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 report on Wednesday, October 2nd. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. Truist Financial reissued a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Insider Buying and Selling

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, 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. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Price Performance

PKG opened at $235.81 on Friday. The company has a fifty day moving average price of $221.23 and a two-hundred day moving average price of $200.12. The firm has a market capitalization of $21.18 billion, a PE ratio of 27.48, a P/E/G ratio of 3.31 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00.

Packaging Co. of America (NYSE:PKG) last posted its 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. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.05 EPS. As a group, analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed 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 dividend yield of 2.12%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 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.