iA Global Asset Management Inc. Sells 1,008 Shares of Packaging Co. of America (NYSE:PKG)

iA Global Asset Management Inc. reduced its position in shares of Packaging Co. of America (NYSE:PKG) by 20.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,956 shares of the industrial products company’s stock after selling 1,008 shares during the quarter. iA Global Asset Management Inc.’s holdings in Packaging Co. of America were worth $891,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Sanctuary Advisors LLC grew its stake in shares of Packaging Co. of America by 17.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at about $293,000. AlphaQuest LLC lifted its position in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after buying an additional 1,954 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America during the 4th quarter valued at about $6,966,000. Finally, GAMMA Investing LLC lifted its position in shares of Packaging Co. of America by 24.2% during the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock valued at $547,000 after buying an additional 473 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup lifted their price objective on 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 lowered their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Down 1.5 %

Shares of PKG opened at $194.30 on Friday. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82. The business’s 50 day simple moving average is $214.03 and its 200-day simple moving average is $222.24. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last released its 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 net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts expect that Packaging Co. of America will post 10.44 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 Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

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.