Nisa Investment Advisors LLC Sells 1,755 Shares of Packaging Co. of America (NYSE:PKG)

Nisa Investment Advisors LLC cut its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,793 shares of the industrial products company's stock after selling 1,755 shares during the quarter. Nisa Investment Advisors LLC's holdings in Packaging Co. of America were worth $2,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Stifel Financial Corp boosted its stake in Packaging Co. of America by 1,462.2% in the third quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after buying an additional 536,389 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company's stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Packaging Co. of America by 164.3% during the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company's stock valued at $73,272,000 after purchasing an additional 249,483 shares during the last quarter. International Assets Investment Management LLC raised its position in Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock worth $33,499,000 after purchasing an additional 155,142 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in Packaging Co. of America by 218.1% in the third quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock worth $44,739,000 after purchasing an additional 142,400 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Trading Up 0.4 %

NYSE PKG traded up $0.84 during trading on Friday, hitting $240.08. The company had a trading volume of 546,175 shares, compared to its average volume of 747,793. The company's fifty day moving average is $235.85 and its 200-day moving average is $219.31. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. 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 company has a market cap of $21.56 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.08%. Packaging Co. of America's dividend payout ratio (DPR) is 58.28%.

Wall Street Analyst Weigh In

PKG has been the topic of several analyst reports. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and boosted their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Wells Fargo & Company raised their target price 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. Truist Financial upped their price target on shares of Packaging Co. of America from $252.00 to $282.00 and gave the company a "buy" rating in a report on Monday, January 6th. Finally, StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $238.67.

Insider Transactions at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the business's stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. The trade was a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $1,921,600.00. Following the completion of the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,300 shares of company stock valued at $8,064,152. Corporate insiders own 1.60% of the company's stock.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.