SG Americas Securities LLC Sells 42,064 Shares of Packaging Co. of America (NYSE:PKG)

SG Americas Securities LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 96.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,692 shares of the industrial products company’s stock after selling 42,064 shares during the period. SG Americas Securities LLC’s holdings in Packaging Co. of America were worth $364,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America in the first quarter valued at $25,000. Asset Dedication LLC raised its stake in shares of Packaging Co. of America by 200.0% in the 2nd 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 bought a new position in shares of Packaging Co. of America during the 3rd quarter worth about $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the 2nd quarter valued at about $33,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter valued at about $43,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $220.12 on Friday. The stock has a market capitalization of $19.77 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 4.32 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $222.98. The firm has a 50 day moving average of $209.17 and a 200-day moving average of $192.96.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (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 the consensus estimate 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 previous year, the company posted $2.31 EPS. As a group, sell-side analysts anticipate that Packaging Co. of America will post 8.73 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 62.74%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PKG shares. Citigroup raised their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial increased their target price on Packaging Co. of America from $219.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on Packaging Co. of America from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Saturday, September 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $216.00.

Insider Buying and Selling at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 6,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 20,772 shares in the company, valued at approximately $4,077,128.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 completion of the sale, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charles J. Carter sold 5,389 shares of the company’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 $1,057,752.92. Following the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

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.