Atwater Malick LLC Has $3.01 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

Atwater Malick LLC boosted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,385 shares of the industrial products company’s stock after buying an additional 412 shares during the period. Packaging Co. of America makes up about 1.0% of Atwater Malick LLC’s holdings, making the stock its 25th biggest position. Atwater Malick LLC’s holdings in Packaging Co. of America were worth $3,013,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Stifel Financial Corp increased its holdings in shares of Packaging Co. of America by 1,462.2% in the 3rd quarter. Stifel Financial Corp now owns 573,073 shares of the industrial products company’s stock valued at $123,440,000 after purchasing an additional 536,389 shares during the period. Millennium Management LLC grew its position in Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. AQR Capital Management LLC increased its stake in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after buying an additional 249,483 shares during the period. International Assets Investment Management LLC lifted its position in Packaging Co. of America by 41,151.7% in the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after buying an additional 155,142 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in shares of Packaging Co. of America by 218.1% during the 3rd quarter. Two Sigma Advisers LP now owns 207,700 shares of the industrial products company’s stock valued at $44,739,000 after buying an additional 142,400 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PKG shares. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Truist Financial lifted their price target on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.67.

Packaging Co. of America Trading Up 0.9 %

NYSE:PKG opened at $237.52 on Friday. The company’s 50 day moving average is $235.69 and its 200-day moving average is $216.62. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $2.05 EPS. The business’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Packaging Co. of America will post 9.08 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, December 20th. This represents a $5.00 annualized dividend and a yield of 2.11%. Packaging Co. of America’s payout ratio is 58.28%.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total value of $563,247.00. Following the sale, the senior vice president now directly owns 9,197 shares in the company, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul T. Stecko sold 10,500 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was 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 in the company, valued at approximately $2,175,045.71. The trade was a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 in the last 90 days. 1.70% of the stock is currently owned by insiders.

Packaging Co. of America Profile

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.