First National Trust Co Sells 63 Shares of Packaging Co. of America (NYSE:PKG)

First National Trust Co cut its stake in shares of Packaging Co. of America (NYSE:PKGFree Report) by 4.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,301 shares of the industrial products company’s stock after selling 63 shares during the period. First National Trust Co’s holdings in Packaging Co. of America were worth $212,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its stake in Packaging Co. of America by 0.5% in the third quarter. Commonwealth Equity Services LLC now owns 62,986 shares of the industrial products company’s stock worth $9,672,000 after buying an additional 311 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Packaging Co. of America by 152.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 38,953 shares of the industrial products company’s stock worth $5,981,000 after buying an additional 23,519 shares in the last quarter. Raymond James & Associates boosted its stake in Packaging Co. of America by 16.4% in the third quarter. Raymond James & Associates now owns 159,277 shares of the industrial products company’s stock worth $24,457,000 after buying an additional 22,493 shares in the last quarter. Telemus Capital LLC purchased a new stake in Packaging Co. of America in the third quarter worth approximately $208,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Packaging Co. of America by 29.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,160 shares of the industrial products company’s stock worth $4,478,000 after buying an additional 6,675 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Up 0.5 %

Shares of NYSE PKG traded up $0.85 during trading on Monday, reaching $177.12. The company had a trading volume of 17,150 shares, compared to its average volume of 682,952. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27. The stock has a market cap of $15.90 billion, a PE ratio of 22.03, a P/E/G ratio of 4.29 and a beta of 0.80. The business’s 50-day moving average is $182.28 and its 200 day moving average is $169.21. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm posted $2.20 earnings per share. Packaging Co. of America’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced 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 was Thursday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.82%. Packaging Co. of America’s payout ratio is 62.50%.

Insiders Place Their Bets

In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred 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 owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas A. Hassfurther sold 14,191 shares of Packaging Co. of America stock in a transaction that occurred 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 owns 183,930 shares of the company’s stock, valued at approximately $31,967,034. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now directly owns 187,647 shares in the company, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,041 shares of company stock valued at $6,799,177. Insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PKG. Bank of America raised 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 research note on Monday, March 4th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Citigroup dropped their price objective on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Finally, BNP Paribas downgraded 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. Five equities research 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 presently has an average rating of “Hold” and an average price target of $173.57.

View Our Latest Stock Report on PKG

About Packaging Co. of America

(Free Report)

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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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