Wilmington Savings Fund Society FSB Makes New Investment in Packaging Co. of America (NYSE:PKG)

Wilmington Savings Fund Society FSB acquired a new stake in Packaging Co. of America (NYSE:PKG - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,879 shares of the industrial products company's stock, valued at approximately $836,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Asset Dedication LLC lifted its stake in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock worth $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Packaging Co. of America during the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America in the 2nd quarter valued at $33,000. Larson Financial Group LLC increased its stake in Packaging Co. of America by 234.7% in the third 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. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America during the second quarter worth $50,000. Hedge funds and other institutional investors own 89.78% of the company's stock.

Insider Activity at Packaging Co. of America

In related news, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at $2,175,045.71. The trade was a 54.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were 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 approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last 90 days. Insiders own 1.60% of the company's stock.

Packaging Co. of America Stock Down 0.4 %

Packaging Co. of America stock traded down $1.01 during mid-day trading on Monday, reaching $237.09. 572,735 shares of the company were exchanged, compared to its average volume of 603,197. 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 firm has a market cap of $21.29 billion, a P/E ratio of 27.75, a PEG ratio of 3.34 and a beta of 0.77. The business has a fifty day moving average of $233.62 and a 200 day moving average of $209.15. Packaging Co. of America has a 12-month low of $159.57 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, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Research analysts anticipate that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.11%. Packaging Co. of America's dividend payout ratio (DPR) is presently 58.28%.

Analysts Set New Price Targets

A number of research analysts have recently commented on PKG shares. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Saturday. Citigroup upped their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 2nd. 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 research report on Thursday, October 24th. Finally, Truist Financial reiterated a "buy" rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.