Y Intercept Hong Kong Ltd Buys New Shares in Packaging Co. of America (NYSE:PKG)

Y Intercept Hong Kong Ltd bought a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 11,210 shares of the industrial products company's stock, valued at approximately $2,524,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PKG. Stifel Financial Corp boosted its stake in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company's stock worth $123,440,000 after buying an additional 536,389 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company's stock worth $33,499,000 after acquiring an additional 155,142 shares during the period. Conning Inc. purchased a new position in Packaging Co. of America in the fourth quarter worth $32,329,000. Two Sigma Advisers LP grew its stake in Packaging Co. of America by 218.1% in the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company's stock valued at $44,739,000 after purchasing an additional 142,400 shares during the period. Finally, Mizuho Securities USA LLC grew its stake in Packaging Co. of America by 1,800.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company's stock valued at $28,128,000 after purchasing an additional 123,711 shares during the period. Hedge funds and other institutional investors own 89.78% of the company's stock.

Remove Ads

Insider Activity at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the 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 sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PKG. StockNews.com upgraded Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday. Seaport Res Ptn raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered 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. Jefferies Financial Group upgraded Packaging Co. of America from a "hold" rating to a "buy" rating and upped their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $233.00.

Packaging Co. of America Stock Performance

PKG traded up $2.33 on Friday, hitting $213.08. The company's stock had a trading volume of 747,330 shares, compared to its average volume of 913,731. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The firm has a market cap of $19.14 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. 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 company's 50 day simple moving average is $222.48 and its 200-day simple moving average is $222.28.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data 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%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.35%. Packaging Co. of America's dividend payout ratio (DPR) is currently 55.99%.

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.