Fulton Bank N.A. Sells 1,930 Shares of Packaging Co. of America (NYSE:PKG)

Fulton Bank N.A. cut its stake in Packaging Co. of America (NYSE:PKG) by 32.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,946 shares of the industrial products company’s stock after selling 1,930 shares during the period. Fulton Bank N.A.’s holdings in Packaging Co. of America were worth $888,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in Packaging Co. of America by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 7,438 shares of the industrial products company’s stock worth $1,676,000 after purchasing an additional 291 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of Packaging Co. of America by 794.6% during the fourth quarter. Central Pacific Bank Trust Division now owns 1,333 shares of the industrial products company’s stock valued at $300,000 after buying an additional 1,184 shares during the period. Everence Capital Management Inc. bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $698,000. GAMMA Investing LLC lifted its stake in Packaging Co. of America by 24.2% in the fourth quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after acquiring an additional 473 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Packaging Co. of America by 121.7% during the 4th quarter. Versant Capital Management Inc now owns 317 shares of the industrial products company’s stock worth $71,000 after acquiring an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Packaging Co. of America news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the sale, the senior vice president now owns 9,197 shares in the company, valued at approximately $2,252,253.33. The trade was a 20.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock valued at $8,064,152 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Stock Up 1.0 %

Shares of PKG stock opened at $228.17 on Friday. The stock’s fifty day moving average price is $236.01 and its 200 day moving average price is $214.61. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 26.59, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. 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 issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. On average, research analysts expect 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 20th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, December 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.19%. Packaging Co. of America’s payout ratio is currently 58.28%.

Packaging Co. of America Company 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.