Rhumbline Advisers Trims Holdings in Packaging Co. of America (NYSE:PKG)

Rhumbline Advisers decreased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 190,084 shares of the industrial products company's stock after selling 1,606 shares during the period. Rhumbline Advisers owned approximately 0.21% of Packaging Co. of America worth $42,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC raised its position in Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock worth $35,000 after purchasing an additional 115 shares during the period. Fortitude Family Office LLC boosted its holdings in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after acquiring an additional 98 shares during the period. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at $48,000. Assetmark Inc. increased its stake in Packaging Co. of America by 44.6% in the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after purchasing an additional 83 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Packaging Co. of America during the third quarter worth $64,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating on the stock in a report on Thursday, January 30th. Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Citigroup boosted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company 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 raised their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.00.

Packaging Co. of America Stock Down 1.9 %

NYSE:PKG traded down $4.02 during trading hours on Thursday, reaching $208.30. The company's stock had a trading volume of 301,069 shares, compared to its average volume of 921,053. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company has a market capitalization of $18.71 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The stock has a 50 day moving average price of $225.28 and a two-hundred day moving average price of $221.79. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Friday, December 20th. Packaging Co. of America's payout ratio is currently 55.99%.

Insider Transactions at Packaging Co. of America

In other news, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company's stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

Packaging Co. of America Company 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.