Sanctuary Advisors LLC Acquires 2,946 Shares of Packaging Co. of America (NYSE:PKG)

Sanctuary Advisors LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 17.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,270 shares of the industrial products company's stock after acquiring an additional 2,946 shares during the quarter. Sanctuary Advisors LLC's holdings in Packaging Co. of America were worth $4,366,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PKG. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the third quarter worth $32,000. Larson Financial Group LLC increased its stake in shares of 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 valued at $35,000 after acquiring an additional 115 shares during the last quarter. Asset Dedication LLC raised its position in shares of Packaging Co. of America by 200.0% in the 2nd 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 period. Tortoise Investment Management LLC bought a new position in Packaging Co. of America during the 2nd quarter worth approximately $33,000. Finally, Assetmark Inc. boosted its stake in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after acquiring an additional 83 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Down 0.4 %

Shares of PKG traded down $1.01 during midday trading on Monday, hitting $237.09. The stock had a trading volume of 572,735 shares, compared to its average volume of 603,197. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The company has a 50 day simple moving average of $233.62 and a two-hundred day simple moving average of $209.15. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating 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 business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm earned $2.05 EPS. Packaging Co. of America's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 20th will be paid a $1.25 dividend. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America's payout ratio is currently 58.28%.

Insiders Place Their Bets

In related news, 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 sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction that occurred on 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. This trade represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 in the last three months. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PKG has been the topic of several analyst 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. StockNews.com raised Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Saturday. Citigroup boosted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $221.60.

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.