Longboard Asset Management LP Invests $270,000 in Packaging Co. of America (NYSE:PKG)

Longboard Asset Management LP bought a new stake in Packaging Co. of America (NYSE:PKG) during the 4th quarter, HoldingsChannel reports. The fund bought 1,198 shares of the industrial products company’s stock, valued at approximately $270,000. Packaging Co. of America comprises 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 7th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in PKG. SYM FINANCIAL Corp grew its position in Packaging Co. of America by 3.1% in the 4th quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after buying an additional 42 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after buying an additional 44 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in shares of Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 49 shares during the last quarter. AlphaMark Advisors LLC raised its position in shares of Packaging Co. of America by 3.9% during the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 52 shares during the period. Finally, Atomi Financial Group Inc. raised its holdings in Packaging Co. of America by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock worth $370,000 after buying an additional 52 shares during the period. Institutional investors own 89.78% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the sale, the senior vice president now owns 15,725 shares in the company, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock valued at $8,064,152 in the last quarter. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $211.43 on Tuesday. The stock has a market capitalization of $18.99 billion, a P/E ratio of 23.68, a P/E/G ratio of 2.29 and a beta of 0.77. The business has a 50-day moving average of $233.29 and a two-hundred day moving average of $220.74. Packaging Co. of America has a fifty-two week low of $159.57 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities research analysts predict that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.36%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

PKG has been the subject of several research analyst reports. Wells Fargo & Company reduced their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Citigroup boosted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, January 29th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Truist Financial restated a “buy” rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

About Packaging Co. of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.