Aigen Investment Management LP Invests $529,000 in Packaging Co. of America (NYSE:PKG)

Aigen Investment Management LP bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,456 shares of the industrial products company's stock, valued at approximately $529,000.

Several other institutional investors have also recently made changes to their positions in PKG. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Packaging Co. of America by 1.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 229,989 shares of the industrial products company's stock worth $49,540,000 after acquiring an additional 2,325 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Packaging Co. of America by 24.1% during the 3rd quarter. Apollon Wealth Management LLC now owns 1,386 shares of the industrial products company's stock valued at $298,000 after purchasing an additional 269 shares during the last quarter. Jeppson Wealth Management LLC bought a new stake in shares of Packaging Co. of America during the 3rd quarter worth approximately $210,000. Core Wealth Partners LLC bought a new position in shares of Packaging Co. of America in the 3rd quarter worth $215,000. Finally, Wolverine Asset Management LLC acquired a new stake in Packaging Co. of America in the 3rd quarter worth approximately $1,723,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Down 1.3 %

Packaging Co. of America stock traded down $3.21 during trading on Thursday, reaching $235.13. The company had a trading volume of 282,492 shares, compared to its average volume of 599,691. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $245.00. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 3.37 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 stock's 50 day moving average price is $219.92 and its two-hundred day moving average price is $199.27.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results 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 return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business earned $2.05 earnings per share. The company's revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts expect that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.13%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.28%.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

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

About Packaging Co. of America

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.