Calamos Wealth Management LLC Purchases New Stake in Packaging Co. of America (NYSE:PKG)

Calamos Wealth Management LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 957 shares of the industrial products company’s stock, valued at approximately $215,000.

Several other institutional investors have also recently bought and sold shares of PKG. SYM FINANCIAL Corp increased its holdings in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after buying an additional 42 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after purchasing an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in shares of Packaging Co. of America by 15.2% in the 3rd 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 during the period. Atomi Financial Group Inc. lifted its stake in Packaging Co. of America by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 52 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after purchasing an additional 52 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,300 shares of company stock valued at $8,064,152. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $210.63 on Wednesday. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $18.92 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The firm’s 50 day simple moving average is $232.54 and its 200 day simple moving average is $220.87.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, analysts expect that Packaging Co. of America will post 11.15 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.37%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PKG shares. Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

About Packaging Co. of America

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.