2 weeks Ago By ABMN Staff
Scientech Research LLC acquired a new position in shares of Packaging Co. of America ( NYSE:PKG – Free Report ) in the second quarter, HoldingsChannel reports. The institutional investor acquired 5,469 shares of the industrial products company’s stock, valued at approximately $998,000.
Other institutional investors also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new stake in shares of Packaging Co. of America during the first quarter worth approximately $25,000.
Neo Ivy Capital Management bought a new stake in shares of Packaging Co. of America during the fourth quarter worth approximately $28,000. Asset Dedication LLC boosted its holdings in shares of Packaging Co.
of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the period.
Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America during the second quarter worth approximately $33,000. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co.
of America during the first quarter worth approximately $43,000. Institutional investors own 89.78% of the company’s stock.
Packaging Co. of America Stock Up 0.4 % Shares of PKG opened at $215.
67 on Friday. The firm has a 50 day simple moving average of $202.87 and a two-hundred day simple moving average of $189.
73. The company has a market cap of $19.37 billion, a P/E ratio of 26.
96, a P/E/G ratio of 4.22 and a beta of 0.77.
The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.
71. Packaging Co. of America has a one year low of $143.
82 and a one year high of $217.69. Packaging Co.
of America Dividend Announcement The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $1.25 per share.
The ex-dividend date is Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.
32%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.
50%. Insider Transactions at Packaging Co. of America In other news, EVP Charles J.
Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.
92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92.
The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link . In related news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th.
The shares were sold at an average price of $196.28, for a total value of $1,177,680.00.
Following the sale, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website .
Also, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.
28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.
92. The disclosure for this sale can be found here . Company insiders own 1.
60% of the company’s stock. Wall Street Analyst Weigh In Several equities research analysts recently issued reports on PKG shares. Bank of America boosted their price target on Packaging Co.
of America from $197.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, June 17th.
Citigroup boosted their price objective on shares of Packaging Co. of America from $181.00 to $187.
00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Wells Fargo & Company boosted their price objective on shares of Packaging Co. of America from $194.
00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Truist Financial boosted their price objective on shares of Packaging Co.
of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday, July 25th.
Finally, StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday.
Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America has an average rating of “Hold” and a consensus target price of $190.
50. Get Our Latest Stock Report on Packaging Co. of America Packaging Co.
of America Profile ( Free Report ) Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.
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