Sumitomo Mitsui DS Asset Management Company Ltd Raises Stake in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,551 shares of the industrial products company's stock after purchasing an additional 1,699 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Packaging Co. of America were worth $2,375,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PKG. Brookstone Capital Management bought a new position in shares of Packaging Co. of America in the 3rd quarter worth about $288,000. CWM LLC increased its stake in shares of Packaging Co. of America by 82.8% in the 3rd quarter. CWM LLC now owns 9,474 shares of the industrial products company's stock worth $2,041,000 after acquiring an additional 4,290 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Packaging Co. of America by 337.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,312 shares of the industrial products company's stock worth $283,000 after acquiring an additional 1,012 shares in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Packaging Co. of America in the 3rd quarter worth about $209,000. Finally, Ritholtz Wealth Management increased its stake in shares of Packaging Co. of America by 1.9% in the 3rd quarter. Ritholtz Wealth Management now owns 4,984 shares of the industrial products company's stock worth $1,074,000 after acquiring an additional 95 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Performance

Shares of NYSE PKG traded up $0.39 during trading on Friday, reaching $212.54. 806,333 shares of the company traded hands, compared to its average volume of 959,478. The firm has a 50 day simple moving average of $226.87 and a 200-day simple moving average of $221.33. 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 capitalization of $19.09 billion, a PE ratio of 23.80, a P/E/G ratio of 2.40 and a beta of 0.77. Packaging Co. of America has a 52-week low of $165.20 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Equities research analysts anticipate that Packaging Co. of America will post 10.6 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Friday, December 20th. Packaging Co. of America's payout ratio is presently 55.99%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Truist Financial restated a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating and raised their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Wells Fargo & Company reduced their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an "overweight" rating for the company in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.00.

Insider Activity

In related news, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company's stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the transaction, the senior vice president now directly owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % 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 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.