Packaging Co. of America (NYSE:PKG) Shares Acquired by Wahed Invest LLC

Wahed Invest LLC lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 13.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,719 shares of the industrial products company’s stock after purchasing an additional 198 shares during the quarter. Wahed Invest LLC’s holdings in Packaging Co. of America were worth $326,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in Packaging Co. of America in the 1st quarter valued at about $25,000. Neo Ivy Capital Management acquired a new stake in Packaging Co. of America in the 4th quarter valued at about $28,000. First Horizon Advisors Inc. grew its stake in Packaging Co. of America by 60.5% in the 4th quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 69 shares during the last quarter. Gables Capital Management Inc. acquired a new stake in Packaging Co. of America in the 4th quarter valued at about $31,000. Finally, Headlands Technologies LLC acquired a new stake in Packaging Co. of America in the 1st quarter valued at about $43,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Packaging Co. of America news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares in the company, valued at approximately $166,766.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of Packaging Co. of America stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now directly owns 20,772 shares of the company’s stock, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Trading Down 0.7 %

NYSE PKG traded down $1.31 during mid-day trading on Friday, hitting $196.69. The company’s stock had a trading volume of 484,115 shares, compared to its average volume of 627,580. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $201.99. The stock’s fifty day simple moving average is $186.00 and its two-hundred day simple moving average is $180.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74. The firm has a market capitalization of $17.66 billion, a P/E ratio of 24.75, a price-to-earnings-growth ratio of 5.22 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $2.08 billion for 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%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. Research analysts expect that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s payout ratio is currently 62.50%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research note on Friday, April 12th. Wells Fargo & Company raised 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. Truist Financial raised their price target on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup raised 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. 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.50.

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.