Entropy Technologies LP Makes New $7.32 Million Investment in Packaging Co. of America (NYSE:PKG)

Entropy Technologies LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,514 shares of the industrial products company's stock, valued at approximately $7,320,000. Packaging Co. of America accounts for about 0.8% of Entropy Technologies LP's investment portfolio, making the stock its 13th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PKG. Stifel Financial Corp increased its holdings in Packaging Co. of America by 1,462.2% during the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock valued at $123,440,000 after buying an additional 536,389 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Packaging Co. of America by 41,151.7% during 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. Conning Inc. bought a new stake in Packaging Co. of America during the fourth quarter valued at about $32,329,000. Two Sigma Advisers LP increased its position in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after buying an additional 142,400 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its stake in shares of Packaging Co. of America by 1,800.2% in the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company's stock worth $28,128,000 after buying an additional 123,711 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of Packaging Co. of America stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares of the company's stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Packaging Co. of America Price Performance

NYSE PKG traded down $3.75 during trading on Wednesday, hitting $204.50. 952,880 shares of the stock traded hands, compared to its average volume of 944,692. The company has a market capitalization of $18.37 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 12-month low of $163.68 and a 12-month high of $250.82. The firm has a 50-day simple moving average of $228.12 and a 200-day simple moving average of $221.30. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates 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%. As a group, analysts predict that Packaging Co. of America will post 10.6 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, December 20th. Packaging Co. of America's dividend payout ratio is 55.99%.

Analyst Upgrades and Downgrades

PKG has been the subject of several analyst reports. Truist Financial reissued a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research report on Monday, January 6th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their target price for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Profile

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.