DT Investment Partners LLC Cuts Stock Position in Packaging Co. of America (NYSE:PKG)

DT Investment Partners LLC lessened its position in Packaging Co. of America (NYSE:PKG) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,517 shares of the industrial products company’s stock after selling 484 shares during the quarter. DT Investment Partners LLC’s holdings in Packaging Co. of America were worth $1,271,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PKG. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $25,000. Clear Street Markets LLC raised its holdings in shares of Packaging Co. of America by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock valued at $25,000 after buying an additional 88 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $28,000. Money Concepts Capital Corp raised its holdings in shares of Packaging Co. of America by 60.0% in the 4th quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock valued at $34,000 after buying an additional 99 shares during the period. Finally, Anchor Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In related news, VP Thomas A. Hassfurther sold 14,191 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the completion of the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 in the last three months. 1.60% of the stock is currently owned by company insiders.

Packaging Co. of America Stock Up 0.9 %

Shares of PKG traded up $1.64 during mid-day trading on Friday, reaching $179.89. The company’s stock had a trading volume of 2,529,184 shares, compared to its average volume of 479,500. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The stock has a market cap of $16.15 billion, a PE ratio of 21.21, a price-to-earnings-growth ratio of 4.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The company’s 50 day moving average is $181.22 and its 200 day moving average is $167.48.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.90 billion. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.35 EPS. Equities analysts anticipate that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date was Thursday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 58.96%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PKG. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price target for the stock from $172.00 to $202.00 in a report on Monday, March 4th. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. Citigroup upped their price target on Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Finally, StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Hold” and a consensus target price of $171.29.

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.