nVerses Capital LLC Makes New $948,000 Investment in Packaging Co. of America (NYSE:PKG)

nVerses Capital LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,400 shares of the industrial products company's stock, valued at approximately $948,000.

Other institutional investors have also added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new position in shares of Packaging Co. of America during the first quarter valued at about $25,000. Central Pacific Bank Trust Division bought a new position in shares of Packaging Co. of America during the third quarter valued at about $32,000. Asset Dedication LLC raised its stake in shares of 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 valued at $31,000 after acquiring an additional 112 shares during the last quarter. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America during the second quarter valued at about $33,000. Finally, Headlands Technologies LLC bought a new position in Packaging Co. of America in the first quarter worth about $43,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Down 0.6 %

Shares of PKG stock traded down $1.33 during trading hours on Thursday, hitting $220.40. 620,805 shares of the company's stock traded hands, compared to its average volume of 596,061. The stock's fifty day simple moving average is $208.18 and its two-hundred day simple moving average is $192.55. Packaging Co. of America has a 12-month low of $143.82 and a 12-month high of $222.98. The stock has a market cap of $19.79 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 4.25 and a beta of 0.77. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business's revenue was up 6.3% on a year-over-year basis. During the same period last year, the business earned $2.31 earnings per share. On average, analysts expect that Packaging Co. of America will post 8.73 EPS for the current year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's dividend payout ratio (DPR) is currently 62.50%.

Insider Activity at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the firm'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 $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company's stock, valued at $5,012,794.92. This trade represents a 0.00 % 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. In related news, EVP Charles J. Carter sold 5,389 shares of the firm'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 $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company's stock, valued at $5,012,794.92. This trade represents a 0.00 % 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, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the sale, the senior vice president now directly owns 20,772 shares of the company's stock, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on PKG shares. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Truist Financial raised their price objective on shares of Packaging Co. of America from $219.00 to $242.00 and gave the stock a "buy" rating in a report on Tuesday. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $215.00 to $235.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Finally, StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Saturday, September 28th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $203.33.

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.