Alberta Investment Management Corp Increases Position in Packaging Co. of America (NYSE:PKG)

Alberta Investment Management Corp raised its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 490.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 60,842 shares of the industrial products company's stock after buying an additional 50,542 shares during the period. Alberta Investment Management Corp owned about 0.07% of Packaging Co. of America worth $13,697,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PKG. Exchange Traded Concepts LLC bought a new stake in shares of Packaging Co. of America during the 3rd quarter valued at about $78,000. Creative Planning grew its position in Packaging Co. of America by 3.3% during the third quarter. Creative Planning now owns 16,842 shares of the industrial products company's stock valued at $3,628,000 after buying an additional 534 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Packaging Co. of America by 1.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 8,852 shares of the industrial products company's stock valued at $1,907,000 after buying an additional 148 shares during the last quarter. New Century Financial Group LLC bought a new position in Packaging Co. of America in the third quarter worth approximately $236,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Packaging Co. of America by 23.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 80,906 shares of the industrial products company's stock worth $17,427,000 after acquiring an additional 15,536 shares during the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Truist Financial restated a "buy" rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Wells Fargo & Company decreased their price objective on Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded down $1.49 during trading on Friday, reaching $208.19. 1,411,488 shares of the stock traded hands, compared to its average volume of 916,422. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a fifty day simple moving average of $224.69 and a two-hundred day simple moving average of $221.71. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.44 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Sell-side analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.40%. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

Insiders Place Their Bets

In related news, SVP Joseph Vaughn sold 2,300 shares of Packaging Co. of America stock in a transaction dated Tuesday, December 3rd. The stock was 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 owns 9,197 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.60% of the company's stock.

About Packaging Co. of America

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.