International Assets Investment Management LLC Has $4.94 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

International Assets Investment Management LLC increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 19,323.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,301 shares of the industrial products company’s stock after buying an additional 30,145 shares during the period. International Assets Investment Management LLC’s holdings in Packaging Co. of America were worth $4,936,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PKG. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Packaging Co. of America during the 3rd quarter worth approximately $25,000. Clear Street Markets LLC lifted its position in shares of Packaging Co. of America by 94.6% in the 1st quarter. Clear Street Markets LLC now owns 181 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 88 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $28,000. Money Concepts Capital Corp lifted its position in shares of Packaging Co. of America by 60.0% in the 4th quarter. Money Concepts Capital Corp now owns 264 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 99 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter worth approximately $37,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $180.36 on Tuesday. The firm has a market capitalization of $16.19 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 4.38 and a beta of 0.78. The firm has a fifty day simple moving average of $180.17 and a two-hundred day simple moving average of $166.96. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a 12 month low of $122.20 and a 12 month high of $191.27.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.30. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.90 billion. Packaging Co. of America had a net margin of 9.81% and a return on equity of 20.25%. Packaging Co. of America’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 EPS. Analysts forecast that Packaging Co. of America will post 8.31 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio is 58.96%.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of recent analyst reports. Citigroup boosted their price target on shares of Packaging Co. of America from $172.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. 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. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday. Truist Financial lifted their price objective on shares of Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. 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 research note on Monday, March 4th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $171.29.

Insiders Place Their Bets

In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America 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 transaction, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the transaction, the vice president now directly owns 187,647 shares in the company, valued at $33,975,365.82. The disclosure for this sale can be found here. Insiders have sold 38,041 shares of company stock valued at $6,799,177 in the last three months. 1.60% of the stock is currently owned by insiders.

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.