Mizuho Securities USA LLC Boosts Stake in Packaging Co. of America (NYSE:PKG)

Mizuho Securities USA LLC lifted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 1,800.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 130,583 shares of the industrial products company's stock after purchasing an additional 123,711 shares during the period. Mizuho Securities USA LLC owned about 0.15% of Packaging Co. of America worth $28,128,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Asset Dedication LLC lifted its position 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 acquiring an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at about $33,000. Headlands Technologies LLC bought a new position in Packaging Co. of America in the first quarter worth approximately $43,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the 2nd quarter worth $50,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded up $0.21 during midday trading on Friday, hitting $235.81. The company had a trading volume of 583,602 shares, compared to its average volume of 600,704. The company has a fifty day simple moving average of $221.23 and a 200 day simple moving average of $199.93. The stock has a market cap of $21.18 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.35 and a beta of 0.76. 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 12-month low of $148.50 and a 12-month high of $245.00.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company had revenue of $2.18 billion during 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 firm's revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business 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 yield of 2.12%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Insiders Place Their Bets

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 value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of recent research reports. Truist Financial reiterated a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup boosted 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 research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.60.

Packaging Co. of America Company 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.