CWA Asset Management Group LLC Purchases Shares of 2,389 Packaging Co. of America (NYSE:PKG)

CWA Asset Management Group LLC bought a new stake in Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,389 shares of the industrial products company's stock, valued at approximately $515,000.

Several other institutional investors also recently modified their holdings of PKG. Boston Partners raised its holdings in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company's stock worth $274,421,000 after acquiring an additional 477,487 shares during the last quarter. Millennium Management LLC boosted its stake in Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after acquiring an additional 262,315 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock worth $73,272,000 after purchasing an additional 249,483 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock valued at $33,499,000 after purchasing an additional 155,142 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company's stock worth $210,636,000 after purchasing an additional 86,005 shares during the period. 89.78% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Robert P. Mundy sold 12,500 shares of the company's stock in a transaction dated Friday, November 8th. The shares were 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 owns 43,954 shares of the company's stock, valued at $10,576,211.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of 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. Truist Financial reiterated a "buy" rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup boosted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $221.60.

Packaging Co. of America Trading Down 0.7 %

Shares of Packaging Co. of America stock traded down $1.68 during trading on Tuesday, reaching $239.81. 630,682 shares of the stock were exchanged, compared to its average volume of 601,480. The firm has a market cap of $21.54 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.40 and a beta of 0.76. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average is $218.57 and its 200 day moving average is $198.53. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $245.00.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm's quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $2.05 EPS. As a group, equities research 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.08%. Packaging Co. of America's dividend payout ratio is presently 58.28%.

Packaging Co. of America 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.