Dean Investment Associates LLC Sells 18,471 Shares of Packaging Co. of America (NYSE:PKG)

Dean Investment Associates LLC trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 93.0% during the third quarter, HoldingsChannel reports. The firm owned 1,396 shares of the industrial products company’s stock after selling 18,471 shares during the quarter. Dean Investment Associates LLC’s holdings in Packaging Co. of America were worth $301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Asset Dedication LLC boosted its position in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America during the third quarter worth $32,000. Tortoise Investment Management LLC acquired a new stake in shares of Packaging Co. of America during the second quarter worth $33,000. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America during the second quarter worth $50,000. 89.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Truist Financial reiterated a “buy” rating and issued a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Stock Down 0.6 %

Shares of PKG stock opened at $242.86 on Monday. 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. The firm’s fifty day moving average price is $231.12 and its two-hundred day moving average price is $207.13. The firm has a market capitalization of $21.81 billion, a P/E ratio of 28.31, a PEG ratio of 3.41 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 EPS. On average, equities analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the business’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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph Vaughn sold 2,300 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the transaction, the senior vice president now owns 9,197 shares in the company, valued at $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,300 shares of company stock worth $8,064,152 in the last ninety days. Insiders own 1.70% of the company’s stock.

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.