Orion Portfolio Solutions LLC Reduces Holdings in Packaging Co. of America (NYSE:PKG)

Orion Portfolio Solutions LLC lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,781 shares of the industrial products company’s stock after selling 194 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Packaging Co. of America were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators lifted its position in Packaging Co. of America by 15.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after buying an additional 49 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock worth $704,000 after acquiring an additional 54 shares in the last quarter. Huntington National Bank lifted its position in Packaging Co. of America by 0.5% during the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after acquiring an additional 55 shares during the period. Daiwa Securities Group Inc. boosted its stake in Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after acquiring an additional 56 shares in the last quarter. Finally, Moors & Cabot Inc. grew its holdings in Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares during the period. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Performance

PKG stock opened at $237.09 on Tuesday. The stock has a market capitalization of $21.29 billion, a PE ratio of 27.63, a price-to-earnings-growth ratio of 3.34 and a beta of 0.77. The stock’s 50 day simple moving average is $234.09 and its 200 day simple moving average is $209.54. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.11%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKG. Citigroup lifted their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company boosted their target price 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, Truist Financial restated a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $221.60.

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last three months. Insiders own 1.60% of the company’s stock.

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.