MRJ Capital Inc. Sells 1,900 Shares of Packaging Co. of America (NYSE:PKG)

MRJ Capital Inc. lowered its holdings in shares of Packaging Co. of America (NYSE:PKG) by 12.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,200 shares of the industrial products company’s stock after selling 1,900 shares during the period. MRJ Capital Inc.’s holdings in Packaging Co. of America were worth $1,775,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PKG. Valley Brook Capital Group bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $27,000. tru Independence LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $29,000. Vantage Consulting Group Inc bought a new position in shares of Packaging Co. of America during the 4th quarter valued at $30,000. Creative Financial Designs Inc. ADV grew its holdings in shares of Packaging Co. of America by 878.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 225 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 202 shares during the last quarter. Finally, Whittier Trust Co. grew its holdings in Packaging Co. of America by 48.7% in the 1st quarter. Whittier Trust Co. now owns 223 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 73 shares during the last quarter. 88.40% of the stock is currently owned by institutional investors.

Packaging Co. of America stock traded up $3.49 during trading hours on Friday, hitting $155.05. The stock had a trading volume of 254,540 shares, compared to its average volume of 613,753. The company has a quick ratio of 2.54, a current ratio of 3.54 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $14.73 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 4.14 and a beta of 1.07. Packaging Co. of America has a 12-month low of $86.93 and a 12-month high of $156.54. The stock’s 50-day moving average price is $142.06 and its 200-day moving average price is $135.71.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Sunday, April 25th. The industrial products company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.29. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Packaging Co. of America had a net margin of 7.11% and a return on equity of 18.67%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.50 earnings per share. On average, research analysts expect that Packaging Co. of America will post 5.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Tuesday, June 15th will be paid a $1.00 dividend. The ex-dividend date is Monday, June 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.58%. Packaging Co. of America’s dividend payout ratio is presently 52.29%.

A number of equities research analysts have issued reports on PKG shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Packaging Co. of America from $128.00 to $135.00 and gave the stock a “hold” rating in a report on Monday, April 26th. Morgan Stanley raised their target price on shares of Packaging Co. of America from $131.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 5th. BMO Capital Markets raised their target price on shares of Packaging Co. of America from $140.00 to $150.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 28th. Finally, Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $137.20.

In other news, SVP Charles J. Carter sold 9,161 shares of Packaging Co. of America stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $154.57, for a total value of $1,416,015.77. Following the completion of the sale, the senior vice president now directly owns 39,572 shares in the company, valued at $6,116,644.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

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 Packaging and Paper segments. 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.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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