Packaging Co. of America (NYSE:PKG) Shares Bought by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. boosted its stake in shares of Packaging Co. of America (NYSE:PKG) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 122,399 shares of the industrial products company’s stock after buying an additional 18,774 shares during the period. Bahl & Gaynor Inc.’s holdings in Packaging Co. of America were worth $19,940,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in Packaging Co. of America by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,186,729 shares of the industrial products company’s stock worth $335,772,000 after buying an additional 11,536 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Packaging Co. of America by 4.6% during the third quarter. Ameriprise Financial Inc. now owns 1,337,507 shares of the industrial products company’s stock worth $205,389,000 after buying an additional 58,444 shares during the last quarter. Northern Trust Corp boosted its stake in Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after buying an additional 131,058 shares during the last quarter. Boston Partners acquired a new position in Packaging Co. of America during the third quarter worth $123,821,000. Finally, Atlas FRM LLC boosted its stake in Packaging Co. of America by 17.9% during the third quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock worth $70,633,000 after buying an additional 70,000 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insiders Place Their Bets

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now owns 46,454 shares in the company, valued at approximately $8,478,319.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold a total of 38,041 shares of company stock worth $6,799,177 in the last quarter. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $187.00 to $191.00 in a research note on Wednesday. Citigroup decreased their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America raised Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the company from $172.00 to $202.00 in a research note on Monday, March 4th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Finally, Truist Financial upped their price target on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Trading Up 0.9 %

Shares of PKG stock traded up $1.60 on Friday, hitting $172.85. The stock had a trading volume of 473,122 shares, compared to its average volume of 696,320. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm has a market capitalization of $15.51 billion, a P/E ratio of 21.61, a P/E/G ratio of 4.22 and a beta of 0.78. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The company’s 50 day moving average price is $181.92 and its 200-day moving average price is $168.21.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. Analysts anticipate that Packaging Co. of America will post 8.24 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 Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $1.25 per share. The ex-dividend date was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.89%. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

About Packaging Co. of America

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.