OLD Second National Bank of Aurora Sells 427 Shares of Packaging Co. of America (NYSE:PKG)

OLD Second National Bank of Aurora cut its stake in shares of Packaging Co. of America (NYSE:PKG) by 3.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,626 shares of the industrial products company’s stock after selling 427 shares during the quarter. OLD Second National Bank of Aurora’s holdings in Packaging Co. of America were worth $2,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in Packaging Co. of America in the 4th quarter worth about $163,314,000. Balyasny Asset Management L.P. lifted its position in shares of Packaging Co. of America by 175.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 438,285 shares of the industrial products company’s stock valued at $71,401,000 after buying an additional 279,059 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Packaging Co. of America by 1,133.4% during the 4th quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock valued at $40,850,000 after buying an additional 230,422 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Packaging Co. of America by 31.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 783,619 shares of the industrial products company’s stock worth $127,659,000 after purchasing an additional 189,401 shares in the last quarter. Finally, Boston Partners lifted its holdings in Packaging Co. of America by 20.1% in the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after purchasing an additional 162,420 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Truist Financial upped their price objective on Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Citigroup upped their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a report on Monday. Bank of America boosted their target price on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Company boosted their target price on Packaging Co. of America from $191.00 to $194.00 and gave the company an “overweight” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.17.

Packaging Co. of America Trading Up 1.8 %

Shares of NYSE PKG traded up $3.29 during trading hours on Friday, hitting $186.06. 112,202 shares of the company traded hands, compared to its average volume of 623,784. The company’s 50 day moving average price is $182.02 and its 200 day moving average price is $177.27. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 4.86 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12 month low of $132.70 and a 12 month high of $191.39.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. On average, equities research analysts anticipate that Packaging Co. of America will post 8.33 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 Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Packaging Co. of America Company 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.