Intech Investment Management LLC Buys 10,400 Shares of Packaging Co. of America (NYSE:PKG)

Intech Investment Management LLC lifted its position in Packaging Co. of America (NYSE:PKG) by 430.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,814 shares of the industrial products company’s stock after buying an additional 10,400 shares during the quarter. Intech Investment Management LLC’s holdings in Packaging Co. of America were worth $2,339,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Register Financial Advisors LLC bought a new position in Packaging Co. of America during the first quarter worth about $25,000. Neo Ivy Capital Management acquired a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $28,000. Asset Dedication LLC increased its holdings in shares of Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 112 shares during the last quarter. Tortoise Investment Management LLC bought a new stake in Packaging Co. of America in the 2nd quarter valued at $33,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America during the 1st quarter valued at $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Packaging Co. of America

In other news, EVP Charles J. Carter sold 5,389 shares of the firm’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 value of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Charles J. Carter sold 5,389 shares of the 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 completion of the transaction, the executive vice president now directly owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Down 1.3 %

Shares of NYSE PKG opened at $212.90 on Monday. Packaging Co. of America has a 52 week low of $143.82 and a 52 week high of $217.69. The stock’s fifty day moving average is $200.42 and its 200 day moving average is $188.77. 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 stock has a market capitalization of $19.12 billion, a P/E ratio of 26.61, a PEG ratio of 4.22 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its earnings results 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. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The company had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company earned $2.31 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. Sell-side analysts forecast that Packaging Co. of America will post 8.72 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Bank of America upped their price objective 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. Truist Financial upped 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 research note on Thursday, July 25th. Wells Fargo & Company raised their price objective 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. Citigroup upped their target price on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Finally, StockNews.com upgraded 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 given a buy rating to the stock. According to MarketBeat, the stock has a consensus 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.