Weaver C. Barksdale & Associates Inc. Sells 186 Shares of Packaging Co. of America (NYSE:PKG)

Weaver C. Barksdale & Associates Inc. lessened its position in shares of Packaging Co. of America (NYSE:PKG) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,866 shares of the industrial products company’s stock after selling 186 shares during the period. Packaging Co. of America accounts for 2.1% of Weaver C. Barksdale & Associates Inc.’s holdings, making the stock its 11th biggest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Packaging Co. of America were worth $2,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the 1st quarter valued at $25,000. Asset Dedication LLC lifted its holdings in Packaging Co. of America by 200.0% during 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 during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Packaging Co. of America during the 4th quarter valued at approximately $28,000. Tortoise Investment Management LLC bought a new position in shares of Packaging Co. of America in the second quarter worth $33,000. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America during the first quarter valued at about $43,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PKG has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Citigroup raised 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 lifted their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Bank of America raised their price target on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently 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 on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Donald R. Shirley sold 6,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were 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 in the company, valued at approximately $4,077,128.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Charles J. Carter sold 5,389 shares of the business’s 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 sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at approximately $5,012,794.92. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock opened at $215.58 on Friday. The stock’s fifty day moving average is $199.22 and its two-hundred day moving average is $188.32. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. The company has a market capitalization of $19.36 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.10 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued 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 during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a return on equity of 18.21% and a net margin of 9.06%. The business’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 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $1.25 dividend. The ex-dividend date is Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.32%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.

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.