Tokio Marine Asset Management Co. Ltd. Acquires 240 Shares of Packaging Co. of America (NYSE:PKG)

Tokio Marine Asset Management Co. Ltd. increased its stake in Packaging Co. of America (NYSE:PKG) by 10.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,510 shares of the industrial products company’s stock after purchasing an additional 240 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Packaging Co. of America were worth $541,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PKG. Asset Dedication LLC increased its stake in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares during the period. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the 3rd quarter worth about $32,000. Tortoise Investment Management LLC acquired a new position in Packaging Co. of America during the 2nd quarter valued at about $33,000. Headlands Technologies LLC acquired a new position in Packaging Co. of America in the first quarter valued at approximately $43,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Packaging Co. of America in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PKG. Citigroup lifted their price objective 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. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $221.60.

Insider Buying and Selling

In related news, SVP Donald R. Shirley sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Price Performance

NYSE:PKG opened at $235.81 on Friday. Packaging Co. of America has a one year low of $148.50 and a one year high of $245.00. The company has a market cap of $21.18 billion, a P/E ratio of 27.48, a P/E/G ratio of 3.35 and a beta of 0.76. The firm’s fifty day moving average price is $221.23 and its two-hundred day moving average price is $200.12. 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 issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Equities analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

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