Sigma Planning Corp Purchases New Position in Packaging Co. of America (NYSE:PKG)

Sigma Planning Corp acquired a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,510 shares of the industrial products company's stock, valued at approximately $541,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in Packaging Co. of America in the first quarter worth about $43,000. Avantax Advisory Services Inc. boosted its holdings in Packaging Co. of America by 14.0% during the first quarter. Avantax Advisory Services Inc. now owns 10,040 shares of the industrial products company's stock worth $1,905,000 after buying an additional 1,231 shares in the last quarter. Bleakley Financial Group LLC acquired a new position in Packaging Co. of America in the first quarter worth approximately $215,000. State Board of Administration of Florida Retirement System lifted its position in shares of Packaging Co. of America by 10.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company's stock valued at $20,678,000 after acquiring an additional 10,516 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Packaging Co. of America by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,020 shares of the industrial products company's stock worth $20,310,000 after acquiring an additional 18,058 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Down 0.0 %

NYSE PKG traded down $0.10 during trading on Friday, reaching $235.50. The company's stock had a trading volume of 185,259 shares, compared to its average volume of 598,927. 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 stock has a market capitalization of $21.15 billion, a PE ratio of 27.46, a PEG ratio of 3.35 and a beta of 0.76. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00. The business has a 50-day moving average price of $220.55 and a 200-day moving average price of $199.52.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same period in the prior year, the company posted $2.05 earnings per share. Packaging Co. of America's revenue for the quarter was up 14.9% on a year-over-year basis. On average, research analysts forecast 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. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.12%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price 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. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday. Truist Financial reissued a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Finally, Citigroup upped their price target 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 research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $221.60.

Insider Activity

In related news, SVP Donald R. Shirley sold 8,000 shares of the business'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 transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert P. Mundy sold 12,500 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.60% of the company's stock.

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.