Guyasuta Investment Advisors Inc. Decreases Holdings in Packaging Co. of America (NYSE:PKG)

Guyasuta Investment Advisors Inc. cut its holdings in Packaging Co. of America (NYSE:PKG) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,202 shares of the industrial products company’s stock after selling 225 shares during the period. Guyasuta Investment Advisors Inc.’s holdings in Packaging Co. of America were worth $5,246,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PKG. Louisiana State Employees Retirement System acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at about $880,000. International Assets Investment Management LLC raised its stake in Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Packaging Co. of America during the fourth quarter worth about $16,338,000. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of Packaging Co. of America by 60.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 1,890 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Packaging Co. of America by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after purchasing an additional 6,368 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PKG. Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Truist Financial raised their target price on shares of Packaging Co. of America from $170.00 to $187.00 and gave the stock a “buy” rating in a report on Thursday, January 4th. Finally, Citigroup reduced their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $173.57.

Insiders Place Their Bets

In other news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the sale, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares of the company’s stock, valued at $33,975,365.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total transaction of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock worth $6,799,177 in the last ninety days. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 3.9 %

Packaging Co. of America stock traded up $6.71 during midday trading on Monday, reaching $179.56. The stock had a trading volume of 377,619 shares, compared to its average volume of 692,208. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.57 and a quick ratio of 1.77. The firm has a market cap of $16.12 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 4.21 and a beta of 0.78. The firm’s fifty day simple moving average is $181.92 and its two-hundred day simple moving average is $168.41.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. Equities analysts anticipate that Packaging Co. of America will post 8.2 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $1.25 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.78%. Packaging Co. of America’s dividend payout ratio is 62.50%.

About Packaging Co. of America

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.