Franklin Resources Inc. Acquires 5,339 Shares of Packaging Co. of America (NYSE:PKG)

Franklin Resources Inc. raised its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 130,628 shares of the industrial products company's stock after purchasing an additional 5,339 shares during the period. Franklin Resources Inc. owned approximately 0.15% of Packaging Co. of America worth $28,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock worth $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the 3rd quarter worth $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter worth $33,000. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new position in shares of Packaging Co. of America during the second quarter valued at about $50,000. 89.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares of the company's stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Vaughn sold 2,300 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last ninety days. 1.60% of the stock is owned by insiders.

Packaging Co. of America Trading Down 0.8 %

Shares of NYSE PKG traded down $1.76 during midday trading on Thursday, reaching $227.46. The company had a trading volume of 905,837 shares, compared to its average volume of 605,922. The firm's fifty day moving average price is $234.92 and its 200-day moving average price is $210.14. 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 has a one year low of $159.57 and a one year high of $250.82. The stock has a market cap of $20.43 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its 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 net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter last year, the business earned $2.05 earnings per share. The business's revenue was up 14.9% on a year-over-year basis. On average, equities research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday, December 14th. Citigroup upped their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and lifted their target price for the stock from $215.00 to $280.00 in a research note on Wednesday. Finally, Truist Financial restated a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $231.33.

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.