iA Global Asset Management Inc. Sells 4,482 Shares of Packaging Co. of America (NYSE:PKG)

iA Global Asset Management Inc. lowered its position in Packaging Co. of America (NYSE:PKG - Free Report) by 47.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,964 shares of the industrial products company's stock after selling 4,482 shares during the quarter. iA Global Asset Management Inc.'s holdings in Packaging Co. of America were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of PKG. State Street Corp grew its holdings in shares of Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company's stock worth $855,212,000 after acquiring an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. increased its position in Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company's stock worth $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Packaging Co. of America by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company's stock valued at $520,920,000 after purchasing an additional 41,903 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company's stock valued at $210,636,000 after acquiring an additional 86,005 shares during the period. Finally, FMR LLC boosted its position in shares of Packaging Co. of America by 3.4% during the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company's stock valued at $231,846,000 after buying an additional 35,827 shares during the period. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the company'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 sale, the senior vice president now directly owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last 90 days. Insiders own 1.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PKG. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. 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. Finally, Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Packaging Co. of America has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Trading Down 0.6 %

PKG stock traded down $1.40 during trading on Tuesday, hitting $238.23. The company had a trading volume of 464,580 shares, compared to its average volume of 601,644. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.39 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.41 and a beta of 0.77. The firm has a 50-day moving average price of $231.61 and a 200-day moving average price of $207.55. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 earnings per share. As a group, analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.10%. Packaging Co. of America's payout ratio is 58.28%.

About Packaging Co. of America

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.