Entropy Technologies LP Invests $7.32 Million in Packaging Co. of America (NYSE:PKG)

Entropy Technologies LP bought a new position in Packaging Co. of America (NYSE:PKG) during the fourth quarter, Holdings Channel reports. The fund bought 32,514 shares of the industrial products company’s stock, valued at approximately $7,320,000. Packaging Co. of America makes up 0.8% of Entropy Technologies LP’s portfolio, making the stock its 13th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PKG. Stifel Financial Corp grew its position in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock worth $123,440,000 after buying an additional 536,389 shares during the period. International Assets Investment Management LLC grew its position in shares of Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after buying an additional 155,142 shares during the period. Conning Inc. purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $32,329,000. Two Sigma Advisers LP grew its position in Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its position in Packaging Co. of America by 1,800.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after purchasing an additional 123,711 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,800 shares of company stock valued at $5,056,402 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Packaging Co. of America Trading Down 1.1 %

Packaging Co. of America stock opened at $210.03 on Friday. The firm has a 50 day moving average of $230.33 and a 200 day moving average of $221.05. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 12-month low of $163.68 and a 12-month 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.

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 (EPS) 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, research analysts predict that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Wall Street Analysts Forecast Growth

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

Packaging Co. of America Company 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.