Edgestream Partners L.P. Trims Stock Holdings in Packaging Co. of America (NYSE:PKG)

Edgestream Partners L.P. lessened its stake in shares of Packaging Co. of America (NYSE:PKG) by 69.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,599 shares of the industrial products company’s stock after selling 21,516 shares during the quarter. Edgestream Partners L.P.’s holdings in Packaging Co. of America were worth $1,752,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $163,314,000. PNC Financial Services Group Inc. boosted its stake in shares of Packaging Co. of America by 2.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 60,703 shares of the industrial products company’s stock valued at $9,889,000 after acquiring an additional 1,392 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Packaging Co. of America by 37.7% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,389 shares of the industrial products company’s stock worth $552,000 after buying an additional 928 shares in the last quarter. Balentine LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $228,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Packaging Co. of America by 8.2% during the 4th quarter. Franklin Resources Inc. now owns 157,739 shares of the industrial products company’s stock worth $25,697,000 after acquiring an additional 11,932 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 1.5 %

Packaging Co. of America stock opened at $215.58 on Friday. Packaging Co. of America has a one year low of $143.82 and a one year high of $217.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The firm has a market capitalization of $19.36 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.10 and a beta of 0.77. The company has a 50-day simple moving average of $199.22 and a 200-day simple moving average of $188.32.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.31 earnings per share. As a group, equities analysts expect that Packaging Co. of America will post 8.72 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, July 25th. The shares were 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 owns 25,539 shares in the company, valued at $5,012,794.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Packaging Co. of America news, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is owned by corporate insiders.

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.