Packaging Co. of America (NYSE:PKG) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC lifted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 18.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,227 shares of the industrial products company's stock after buying an additional 11,391 shares during the period. Foundry Partners LLC owned approximately 0.08% of Packaging Co. of America worth $13,186,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in Packaging Co. of America in the 1st quarter worth $25,000. Neo Ivy Capital Management bought a new position in shares of Packaging Co. of America during the 4th quarter valued at approximately $28,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America during the 2nd quarter valued at $33,000. First Horizon Advisors Inc. boosted its stake in Packaging Co. of America by 60.5% during the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company's stock worth $30,000 after buying an additional 69 shares during the period. Finally, Gables Capital Management Inc. bought a new position in Packaging Co. of America during the 4th quarter valued at about $31,000. Institutional investors own 89.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, August 28th. Citigroup boosted their target price on Packaging Co. of America from $181.00 to $187.00 and gave the stock a "neutral" rating in a research note on Monday, July 8th. Bank of America lifted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, June 17th. Truist Financial boosted their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a "buy" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Packaging Co. of America currently has an average rating of "Hold" and an average target price of $190.50.

Insider Buying and Selling at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the transaction, the executive vice president now directly owns 25,539 shares of the company's stock, valued at $5,012,794.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Donald R. Shirley sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the transaction, the senior vice president now owns 20,772 shares of the company's stock, valued at $4,077,128.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company's stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Down 1.1 %

Shares of PKG traded down $2.17 during midday trading on Friday, hitting $201.81. The company had a trading volume of 367,874 shares, compared to its average volume of 613,947. The company's 50-day simple moving average is $194.35 and its 200-day simple moving average is $186.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $210.11. The firm has a market capitalization of $18.12 billion, a P/E ratio of 25.23, a P/E/G ratio of 5.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, sell-side analysts expect that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.48%. Packaging Co. of America's dividend payout ratio (DPR) is currently 62.50%.

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.