Folger Nolan Fleming Douglas Capital Management Inc. Purchases New Holdings in Packaging Co. of America (NYSE:PKG)

Folger Nolan Fleming Douglas Capital Management Inc. acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,430 shares of the industrial products company’s stock, valued at approximately $547,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth $390,000. Avanza Fonder AB acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $2,190,000. Burney Co. lifted its holdings in shares of Packaging Co. of America by 20.1% during the 4th quarter. Burney Co. now owns 2,728 shares of the industrial products company’s stock worth $614,000 after acquiring an additional 456 shares during the period. Park Avenue Securities LLC boosted its position in shares of Packaging Co. of America by 76.1% during the 4th quarter. Park Avenue Securities LLC now owns 7,273 shares of the industrial products company’s stock worth $1,637,000 after acquiring an additional 3,143 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Packaging Co. of America by 138.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 177,521 shares of the industrial products company’s stock valued at $39,965,000 after acquiring an additional 103,034 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $237.52 on Friday. The firm has a market capitalization of $21.33 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. The firm’s 50-day moving average price is $235.69 and its 200-day moving average price is $216.62. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. Equities research analysts anticipate that Packaging Co. of America will post 9.08 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.11%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is currently 58.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their target price for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Citigroup increased their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial increased their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $238.67.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the transaction, the director now directly owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.70% of the stock is owned by corporate insiders.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.