Empirical Finance LLC Increases Stock Position in Packaging Co. of America (NYSE:PKG)

Empirical Finance LLC raised its holdings in shares of Packaging Co. of America (NYSE:PKG) by 2.1% during the third quarter, HoldingsChannel reports. The fund owned 3,105 shares of the industrial products company’s stock after purchasing an additional 63 shares during the quarter. Empirical Finance LLC’s holdings in Packaging Co. of America were worth $669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Bleakley Financial Group LLC purchased a new stake in Packaging Co. of America during the 1st quarter worth about $215,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after acquiring an additional 21,143 shares during the period. TIAA Trust National Association purchased a new position in Packaging Co. of America during the first quarter valued at approximately $264,000. Acadian Asset Management LLC increased its holdings in Packaging Co. of America by 4.5% during the 1st quarter. Acadian Asset Management LLC now owns 9,246 shares of the industrial products company’s stock worth $1,753,000 after acquiring an additional 396 shares during the period. Finally, Trustmark National Bank Trust Department purchased a new stake in Packaging Co. of America in the 1st quarter worth approximately $225,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In other 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 completion of the transaction, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $235.81 on Monday. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 3.31 and a beta of 0.76. The business has a 50 day moving average of $221.23 and a 200 day moving average of $200.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.12%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Ratings Changes

PKG has been the subject of a number of recent analyst reports. Truist Financial restated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Citigroup boosted their price objective 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 raised their target price on shares of 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 analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $221.60.

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.