Bahl & Gaynor Inc. Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Bahl & Gaynor Inc. lifted its stake in Packaging Co. of America (NYSE:PKG) by 16.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,783 shares of the industrial products company’s stock after buying an additional 26,072 shares during the period. Bahl & Gaynor Inc.’s holdings in Packaging Co. of America were worth $33,186,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC increased its stake in shares of Packaging Co. of America by 133.8% in the second quarter. Headlands Technologies LLC now owns 533 shares of the industrial products company’s stock worth $97,000 after buying an additional 305 shares during the period. Coldstream Capital Management Inc. increased its position in shares of Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock valued at $1,773,000 after acquiring an additional 56 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in shares of Packaging Co. of America by 2.5% during the second quarter. Royal London Asset Management Ltd. now owns 23,850 shares of the industrial products company’s stock worth $4,354,000 after purchasing an additional 574 shares during the period. Finally, Choreo LLC bought a new stake in shares of Packaging Co. of America in the second quarter worth about $429,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG stock opened at $205.04 on Wednesday. The company’s fifty day moving average price is $195.39 and its 200-day moving average price is $187.00. The stock has a market cap of $18.41 billion, a PE ratio of 25.63, a price-to-earnings-growth ratio of 5.21 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. Packaging Co. of America has a 12 month low of $143.82 and a 12 month high of $210.11.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. The business had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Packaging Co. of America’s quarterly revenue was up 6.3% on a year-over-year basis. On average, equities analysts expect that Packaging Co. of America will post 8.72 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, October 15th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Packaging Co. of America

In related news, EVP Charles J. Carter sold 5,389 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the transaction, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Charles J. Carter sold 5,389 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the completion of the sale, the executive vice president now owns 25,539 shares of the company’s stock, valued at $5,012,794.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,177,680.00. Following the completion of the transaction, the senior vice president now owns 20,772 shares of the company’s stock, valued at $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of recent analyst reports. Citigroup upped their price target on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Truist Financial raised their price target on Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. Bank of America raised their target price on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Finally, Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus target price of $190.50.

Packaging Co. of America Company 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.