State of Alaska Department of Revenue Has $2.29 Million Stock Position in Packaging Co. of America (NYSE:PKG)

State of Alaska Department of Revenue decreased its stake in Packaging Co. of America (NYSE:PKG) by 39.3% in the fourth quarter, HoldingsChannel reports. The firm owned 10,168 shares of the industrial products company’s stock after selling 6,578 shares during the period. State of Alaska Department of Revenue’s holdings in Packaging Co. of America were worth $2,289,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SYM FINANCIAL Corp boosted its position in Packaging Co. of America by 3.1% during the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after acquiring an additional 42 shares during the period. Mather Group LLC. boosted its position in Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after acquiring an additional 43 shares during the period. UMB Bank n.a. boosted its position in 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 acquiring an additional 44 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Packaging Co. of America by 15.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 49 shares during the period. Finally, AlphaMark Advisors LLC boosted its position in Packaging Co. of America by 3.9% during the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.4 %

Shares of PKG stock opened at $209.37 on Tuesday. The stock’s 50 day simple moving average is $229.62 and its 200 day simple moving average is $221.35. 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 twelve month low of $163.68 and a twelve month high of $250.82. The company has a market capitalization of $18.80 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 2.40 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, research analysts predict that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Analyst Ratings Changes

A number of equities research analysts have commented on PKG shares. Truist Financial restated a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Finally, 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. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $233.00.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction that occurred 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 sale, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. 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.