Folger Nolan Fleming Douglas Capital Management Inc. Takes Position in Packaging Co. of America (NYSE:PKG)

Folger Nolan Fleming Douglas Capital Management Inc. bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,430 shares of the industrial products company's stock, valued at approximately $547,000.

Several other large investors have also recently bought and sold shares of PKG. Merit Financial Group LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $390,000. Avanza Fonder AB bought a new stake in Packaging Co. of America in the fourth quarter worth approximately $2,190,000. Burney Co. lifted its stake in Packaging Co. of America by 20.1% in the fourth quarter. Burney Co. now owns 2,728 shares of the industrial products company's stock valued at $614,000 after buying an additional 456 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Packaging Co. of America by 76.1% during the 4th quarter. Park Avenue Securities LLC now owns 7,273 shares of the industrial products company's stock worth $1,637,000 after buying an additional 3,143 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Packaging Co. of America by 138.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 177,521 shares of the industrial products company's stock worth $39,965,000 after buying an additional 103,034 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock traded up $2.20 on Friday, hitting $237.52. 1,768,137 shares of the company traded hands, compared to its average volume of 743,700. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The firm's 50-day simple moving average is $235.69 and its 200 day simple moving average is $217.15. The company has a market cap of $21.33 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. 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 issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) 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 firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The company's revenue was up 14.9% compared to the same quarter last year. Analysts expect that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares of the company's stock, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,300 shares of company stock valued at $8,064,152. 1.70% of the stock is currently owned by corporate insiders.

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.