Altrius Capital Management Inc Has $4.90 Million Stake in Packaging Co. of America (NYSE:PKG)

Altrius Capital Management Inc reduced its position in shares of Packaging Co. of America (NYSE:PKG) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,844 shares of the industrial products company’s stock after selling 64 shares during the period. Packaging Co. of America comprises about 1.3% of Altrius Capital Management Inc’s investment portfolio, making the stock its 29th largest holding. Altrius Capital Management Inc’s holdings in Packaging Co. of America were worth $4,901,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PKG. Register Financial Advisors LLC acquired a new position in Packaging Co. of America during the 1st quarter worth approximately $25,000. Neo Ivy Capital Management acquired a new position in Packaging Co. of America during the fourth quarter worth $28,000. Asset Dedication LLC grew its position 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 valued at $31,000 after purchasing an additional 112 shares in the last quarter. Tortoise Investment Management LLC acquired a new stake in Packaging Co. of America in the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC bought a new stake in Packaging Co. of America during the 1st quarter worth about $43,000. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.4 %

PKG stock opened at $212.40 on Thursday. Packaging Co. of America has a 1-year low of $143.82 and a 1-year high of $217.69. The business’s 50 day simple moving average is $198.56 and its 200 day simple moving average is $188.15. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $19.07 billion, a PE ratio of 26.55, a PEG ratio of 4.10 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.31 earnings per share. As a group, research analysts anticipate that Packaging Co. of America will post 8.72 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.35%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Transactions at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PKG shares. Wells Fargo & Company raised their price objective on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Citigroup boosted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Truist Financial increased their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America boosted their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 17th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.50.

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.