Longboard Asset Management LP Makes New Investment in Packaging Co. of America (NYSE:PKG)

Longboard Asset Management LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,198 shares of the industrial products company's stock, valued at approximately $270,000. Packaging Co. of America makes up about 0.7% of Longboard Asset Management LP's holdings, making the stock its 7th largest holding.

A number of other hedge funds also recently bought and sold shares of the company. Calamos Wealth Management LLC bought a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $215,000. Catalina Capital Group LLC lifted its stake in Packaging Co. of America by 13.8% in the fourth quarter. Catalina Capital Group LLC now owns 1,336 shares of the industrial products company's stock worth $301,000 after purchasing an additional 162 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in Packaging Co. of America by 0.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 19,142 shares of the industrial products company's stock valued at $4,309,000 after buying an additional 132 shares during the period. U.S. Capital Wealth Advisors LLC grew its stake in shares of Packaging Co. of America by 25.1% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 1,471 shares of the industrial products company's stock valued at $331,000 after buying an additional 295 shares during the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Packaging Co. of America by 4.0% in the fourth quarter. Greenleaf Trust now owns 2,503 shares of the industrial products company's stock worth $564,000 after buying an additional 97 shares during the period. Institutional investors own 89.78% of the company's stock.

Insider Activity

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the transaction, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,800 shares of company stock worth $5,056,402. Insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Down 1.1 %

Shares of PKG traded down $2.29 on Friday, reaching $210.03. The stock had a trading volume of 663,725 shares, compared to its average volume of 962,289. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a 12-month low of $163.68 and a 12-month high of $250.82. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 23.52, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The company has a 50-day simple moving average of $230.33 and a 200-day simple moving average of $220.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts predict that Packaging Co. of America will post 11.15 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America's dividend payout ratio is 55.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PKG shares. Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Truist Financial reaffirmed a "buy" rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on 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. Finally, Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $233.00.

Packaging Co. of America Company 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.