Pallas Capital Advisors LLC Buys 242 Shares of Packaging Co. of America (NYSE:PKG)

Pallas Capital Advisors LLC grew its stake in Packaging Co. of America (NYSE:PKG) by 15.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,805 shares of the industrial products company’s stock after purchasing an additional 242 shares during the period. Pallas Capital Advisors LLC’s holdings in Packaging Co. of America were worth $406,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America in the third quarter worth $32,000. Fortitude Family Office LLC raised its stake in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Assetmark Inc. boosted its stake in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new position in Packaging Co. of America during the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

Shares of NYSE PKG opened at $232.35 on Wednesday. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $235.97 and a two-hundred day simple moving average of $215.60. The firm has a market cap of $20.87 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.05 earnings per share. Analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend is Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Truist Financial raised their price objective on shares of Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their target price for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average price target of $238.67.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.