MML Investors Services LLC Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

MML Investors Services LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 16.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,086 shares of the industrial products company's stock after buying an additional 2,461 shares during the period. MML Investors Services LLC's holdings in Packaging Co. of America were worth $3,680,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of brokerages have issued reports on PKG. Truist Financial restated a "buy" rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Citigroup raised their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Insider Activity

In related news, SVP Joseph Vaughn sold 2,300 shares of the company's stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the company's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company's stock, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 over the last ninety days. Company insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded down $0.99 during midday trading on Friday, hitting $238.10. The company's stock had a trading volume of 851,555 shares, compared to its average volume of 602,469. The firm has a market capitalization of $21.38 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 3.35 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $233.62 and a 200 day moving average price of $209.15. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82.

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, beating analysts' consensus estimates 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 business had revenue of $2.18 billion for the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, research analysts forecast that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Friday, December 20th. Packaging Co. of America's 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.