Ellsworth Advisors LLC Decreases Stake in Packaging Co. of America (NYSE:PKG)

Ellsworth Advisors LLC reduced its position in Packaging Co. of America (NYSE:PKG) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,401 shares of the industrial products company’s stock after selling 564 shares during the quarter. Packaging Co. of America comprises about 2.0% of Ellsworth Advisors LLC’s holdings, making the stock its 5th biggest holding. Ellsworth Advisors LLC’s holdings in Packaging Co. of America were worth $7,745,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the 3rd quarter valued at about $32,000. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Fortitude Family Office LLC lifted its position in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Assetmark Inc. grew its stake in Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after buying an additional 83 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of Packaging Co. of America in the 3rd quarter worth $64,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling at Packaging Co. of America

In related news, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This trade represents a 33.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. Insiders own 1.70% of the company’s stock.

Packaging Co. of America Trading Up 0.9 %

NYSE PKG opened at $237.52 on Monday. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $21.33 billion, a PE ratio of 27.68, a P/E/G ratio of 2.24 and a beta of 0.79. The stock’s 50 day moving average is $235.69 and its 200 day moving average is $217.15. Packaging Co. of America has a twelve month low of $159.57 and a twelve month high of $250.82.

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

Packaging Co. of America Announces Dividend

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 $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 dividend payout ratio is currently 58.28%.

Analyst Ratings Changes

Several research analysts recently issued reports on PKG shares. Citigroup upped 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 research report on Monday, January 6th. Truist Financial increased their price objective 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. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Finally, Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $238.67.

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.