Packaging Co. of America (NYSE:PKG) Shares Acquired by ING Groep NV

ING Groep NV boosted its holdings in Packaging Co. of America (NYSE:PKG) by 129.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,462 shares of the industrial products company’s stock after acquiring an additional 72,567 shares during the period. ING Groep NV owned 0.14% of Packaging Co. of America worth $27,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Asset Dedication LLC grew its stake in shares of 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 valued at $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Packaging Co. of America in the 3rd quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new stake in Packaging Co. of America during the second quarter worth about $33,000. Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America during the first quarter worth about $43,000. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Packaging Co. of America in the second quarter valued at approximately $50,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $2.19 on Thursday, reaching $236.15. 99,665 shares of the stock were exchanged, compared to its average volume of 598,742. The firm has a market capitalization of $21.21 billion, a PE ratio of 27.50, a PEG ratio of 3.37 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 fifty day moving average price of $219.92 and a two-hundred day moving average price of $199.27. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, 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 business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.12%. Packaging Co. of America’s payout ratio is currently 58.28%.

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.