Public Employees Retirement System of Ohio Sells 3,042 Shares of Packaging Co. of America (NYSE:PKG)

Public Employees Retirement System of Ohio trimmed its stake in Packaging Co. of America (NYSE:PKG) by 6.8% in the first quarter, HoldingsChannel reports. The firm owned 41,471 shares of the industrial products company’s stock after selling 3,042 shares during the period. Public Employees Retirement System of Ohio’s holdings in Packaging Co. of America were worth $7,870,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PKG. Register Financial Advisors LLC acquired a new position in shares of Packaging Co. of America during the first quarter valued at about $25,000. Neo Ivy Capital Management bought a new stake in Packaging Co. of America in the fourth quarter worth about $28,000. First Horizon Advisors Inc. raised its position in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 69 shares during the period. Gables Capital Management Inc. bought a new stake in Packaging Co. of America in the fourth quarter worth about $31,000. Finally, Headlands Technologies LLC bought a new stake in shares of Packaging Co. of America in the first quarter valued at approximately $43,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the acquisition, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related 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 transaction, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now owns 916 shares in the company, valued at approximately $166,766.96. The disclosure for this purchase can be found here. 1.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of analyst reports. Truist Financial upped their target price on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup boosted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. 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 research note on Monday, June 17th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $190.50.

Packaging Co. of America Trading Down 0.2 %

NYSE PKG traded down $0.42 during trading on Tuesday, hitting $197.98. The company had a trading volume of 14,025 shares, compared to its average volume of 625,106. 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 one year low of $143.82 and a one year high of $199.60. The company has a market cap of $17.78 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 5.20 and a beta of 0.77. The company’s fifty day moving average is $184.95 and its 200-day moving average is $179.75.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.06. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.39%. Packaging Co. of America’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $2.31 EPS. On average, sell-side analysts predict that Packaging Co. of America will post 8.62 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

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.