Trexquant Investment LP Has $5.39 Million Position in Packaging Co. of America (NYSE:PKG)

Trexquant Investment LP grew its holdings in Packaging Co. of America (NYSE:PKG) by 22.9% during the fourth quarter, Holdings Channel reports. The firm owned 33,085 shares of the industrial products company’s stock after acquiring an additional 6,169 shares during the quarter. Trexquant Investment LP’s holdings in Packaging Co. of America were worth $5,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in Packaging Co. of America by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,063 shares of the industrial products company’s stock valued at $1,085,000 after buying an additional 1,645 shares during the period. Teacher Retirement System of Texas lifted its position in shares of Packaging Co. of America by 2.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 6,968 shares of the industrial products company’s stock valued at $1,070,000 after acquiring an additional 172 shares during the period. Wealthfront Advisers LLC boosted its stake in Packaging Co. of America by 18.3% during the third quarter. Wealthfront Advisers LLC now owns 4,430 shares of the industrial products company’s stock worth $680,000 after acquiring an additional 684 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Packaging Co. of America by 5.5% in the third quarter. Daiwa Securities Group Inc. now owns 7,450 shares of the industrial products company’s stock worth $1,144,000 after purchasing an additional 388 shares during the period. Finally, Coldstream Capital Management Inc. bought a new stake in Packaging Co. of America in the third quarter valued at $378,000. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $187.00 to $191.00 in a research report on Wednesday, April 24th. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a report on Friday, April 12th. Seaport Res Ptn lowered shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Bank of America upgraded shares of Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $172.00 to $202.00 in a report on Monday, March 4th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.57.

Packaging Co. of America Stock Up 0.4 %

PKG traded up $0.65 during mid-day trading on Wednesday, reaching $182.50. 31,373 shares of the stock were exchanged, compared to its average volume of 659,529. Packaging Co. of America has a 1 year low of $122.20 and a 1 year high of $191.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a market capitalization of $16.39 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 4.39 and a beta of 0.80. The company has a 50 day moving average price of $181.93 and a two-hundred day moving average price of $171.74.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the firm earned $2.20 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.74%. Packaging Co. of America’s payout ratio is presently 62.50%.

Insider Activity

In related news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the sale, the chief financial officer now directly owns 46,454 shares in the company, valued at $8,478,319.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares in the company, valued at $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The disclosure for this purchase can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 over the last three months. Corporate insiders own 1.70% of the company’s stock.

Packaging Co. of America 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.