Packaging Co. of America (NYSE:PKG) Position Lessened by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Packaging Co. of America (NYSE:PKG) by 0.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,242 shares of the industrial products company’s stock after selling 107 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Packaging Co. of America were worth $3,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the third quarter valued at approximately $32,000. Fortitude Family Office LLC grew its holdings in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC grew its holdings in 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 buying an additional 115 shares in the last quarter. Assetmark Inc. increased its position in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new stake in Packaging Co. of America during the 3rd quarter valued at $64,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $235.14 on Friday. The company has a 50-day moving average of $235.75 and a 200-day moving average of $216.22. The firm has a market cap of $21.12 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 2.24 and a beta of 0.79. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 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 net margin of 9.46% and a return on equity of 19.10%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 earnings per share. Analysts forecast that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is 58.28%.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America 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 transaction, 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last three months. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.