Integrated Wealth Concepts LLC Takes Position in Packaging Co. of America (NYSE:PKG)

Integrated Wealth Concepts LLC bought a new stake in Packaging Co. of America (NYSE:PKG) in the third quarter, Holdings Channel reports. The fund bought 1,450 shares of the industrial products company’s stock, valued at approximately $312,000.

Other institutional investors also recently made changes to their positions in the company. Investment Management Corp of Ontario raised its position in Packaging Co. of America by 22.1% in the third quarter. Investment Management Corp of Ontario now owns 5,517 shares of the industrial products company’s stock worth $1,188,000 after acquiring an additional 1,000 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Packaging Co. of America by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 222,551 shares of the industrial products company’s stock worth $47,941,000 after purchasing an additional 3,579 shares in the last quarter. Centiva Capital LP acquired a new stake in Packaging Co. of America during the third quarter valued at approximately $949,000. Cinctive Capital Management LP bought a new stake in Packaging Co. of America during the third quarter worth approximately $1,103,000. Finally, Benjamin Edwards Inc. grew its position in Packaging Co. of America by 1,577.5% in the third quarter. Benjamin Edwards Inc. now owns 33,147 shares of the industrial products company’s stock worth $7,141,000 after buying an additional 31,171 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Citigroup increased their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Truist Financial reiterated a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total value of $563,247.00. Following the completion of the sale, the senior vice president now directly 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 is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value 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. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock worth $8,064,152 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Packaging Co. of America Trading Up 0.2 %

Shares of NYSE PKG opened at $239.03 on Friday. 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 has a one year low of $159.57 and a one year high of $250.82. The business has a 50-day moving average price of $233.12 and a two-hundred day moving average price of $208.37. The firm has a market capitalization of $21.47 billion, a PE ratio of 27.86, a PEG ratio of 3.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly 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. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. As a group, analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 20th will be issued 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 yield of 2.09%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

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.