Assenagon Asset Management S.A. Has $39.97 Million Position in Packaging Co. of America (NYSE:PKG)

Assenagon Asset Management S.A. lifted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 138.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 177,521 shares of the industrial products company's stock after purchasing an additional 103,034 shares during the quarter. Assenagon Asset Management S.A. owned 0.20% of Packaging Co. of America worth $39,965,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America during the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its stake in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares in the last quarter. Assetmark Inc. boosted its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of Packaging Co. of America during the 3rd quarter valued at $64,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction dated 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 owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was 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 trade represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Stock Up 0.9 %

NYSE:PKG traded up $2.20 during trading hours on Friday, hitting $237.52. 1,768,137 shares of the stock traded hands, compared to its average volume of 951,576. The firm has a 50 day moving average price of $235.75 and a 200 day moving average price of $216.22. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.24 and a beta of 0.79. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 earnings per share. Equities research analysts anticipate that Packaging Co. of America will post 9.08 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America's dividend payout ratio (DPR) is 58.28%.

Analyst Upgrades and Downgrades

PKG has been the subject of several research reports. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, December 24th. Jefferies Financial Group raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating and increased their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Citigroup upped their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a report on Monday, January 6th. Wells Fargo & Company raised their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their target price on Packaging Co. of America from $252.00 to $282.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Moderate Buy" and an average price target of $238.67.

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.