Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Packaging Co. of America (NYSE:PKG)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Packaging Co. of America (NYSE:PKG) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,979 shares of the industrial products company’s stock after acquiring an additional 11,648 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Packaging Co. of America were worth $18,821,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mather Group LLC. lifted its holdings in Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock worth $582,000 after purchasing an additional 43 shares in the last quarter. Longboard Asset Management LP bought a new stake in shares of Packaging Co. of America during the fourth quarter valued at about $270,000. Calamos Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $215,000. Catalina Capital Group LLC grew its stake in Packaging Co. of America by 13.8% during the fourth quarter. Catalina Capital Group LLC now owns 1,336 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 162 shares in the last quarter. Finally, Princeton Global Asset Management LLC grew its stake in Packaging Co. of America by 0.7% during the fourth quarter. Princeton Global Asset Management LLC now owns 19,142 shares of the industrial products company’s stock valued at $4,309,000 after acquiring an additional 132 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

PKG has been the subject of several analyst reports. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average price target of $233.00.

Packaging Co. of America Price Performance

Shares of Packaging Co. of America stock opened at $210.20 on Thursday. The firm has a market capitalization of $18.88 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. 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 12 month low of $161.55 and a 12 month high of $250.82. The business’s 50-day moving average price is $231.80 and its 200-day moving average price is $220.80.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Sell-side analysts forecast that Packaging Co. of America will post 11.15 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Insider Buying and Selling

In other news, SVP Joseph Vaughn sold 2,300 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at approximately $2,252,253.33. This represents a 20.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the completion of the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,300 shares of company stock worth $8,064,152 in the last ninety days. 1.70% of the stock is owned by 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.