Seelaus Asset Management LLC Buys 95 Shares of Packaging Co. of America (NYSE:PKG)

Seelaus Asset Management LLC raised its stake in Packaging Co. of America (NYSE:PKG) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,780 shares of the industrial products company’s stock after acquiring an additional 95 shares during the period. Packaging Co. of America makes up 0.9% of Seelaus Asset Management LLC’s portfolio, making the stock its 19th biggest position. Seelaus Asset Management LLC’s holdings in Packaging Co. of America were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Deseret Mutual Benefit Administrators grew 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 valued at $80,000 after purchasing an additional 49 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 1.4% during the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares during the last quarter. Huntington National Bank increased its position in shares of Packaging Co. of America by 0.5% during the third quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after acquiring an additional 55 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Packaging Co. of America by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. raised its holdings in Packaging Co. of America by 2.1% in the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PKG shares. Wells Fargo & Company lifted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial reiterated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Citigroup lifted their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $221.60.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction on 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 directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald R. Shirley sold 8,000 shares of the business’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 directly owns 15,725 shares of the company’s stock, valued at $3,777,145. This represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Up 0.1 %

PKG stock opened at $235.81 on Friday. The company has a market cap of $21.18 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 3.35 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The business’s 50-day moving average is $221.23 and its two-hundred day moving average is $199.93. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $245.00.

Packaging Co. of America (NYSE:PKG) last released its quarterly 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 firm 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 revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Packaging Co. of America Company Profile

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.