M&T Bank Corp Sells 807 Shares of Packaging Co. of America (NYSE:PKG)

M&T Bank Corp cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,168 shares of the industrial products company’s stock after selling 807 shares during the period. M&T Bank Corp’s holdings in Packaging Co. of America were worth $10,128,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners purchased a new position in Packaging Co. of America in the third quarter worth $123,821,000. Retirement Systems of Alabama boosted its holdings in Packaging Co. of America by 1,133.4% in the fourth quarter. Retirement Systems of Alabama now owns 250,752 shares of the industrial products company’s stock worth $40,850,000 after acquiring an additional 230,422 shares in the last quarter. Northern Trust Corp grew its stake in shares of Packaging Co. of America by 12.8% during the third quarter. Northern Trust Corp now owns 1,154,823 shares of the industrial products company’s stock worth $177,323,000 after acquiring an additional 131,058 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at about $16,338,000. Finally, Atlas FRM LLC raised its position in shares of Packaging Co. of America by 17.9% in the 3rd quarter. Atlas FRM LLC now owns 460,000 shares of the industrial products company’s stock valued at $70,633,000 after purchasing an additional 70,000 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PKG shares. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and raised their target price for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. Citigroup dropped their price target on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Finally, BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price on the stock. in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Trading Up 0.5 %

Shares of NYSE:PKG opened at $176.27 on Monday. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $15.82 billion, a PE ratio of 22.03, a PEG ratio of 4.29 and a beta of 0.80. The business has a 50 day moving average of $182.28 and a two-hundred day moving average of $169.21. Packaging Co. of America has a 12-month low of $122.20 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.94%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.20 EPS. As a group, analysts forecast that Packaging Co. of America will post 8.21 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Thursday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Insider Activity

In other news, CFO Robert P. Mundy sold 10,000 shares of Packaging Co. of America stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the completion of the sale, the chief financial officer now owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total transaction of $2,507,681.00. Following the completion of the sale, the vice president now directly owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The disclosure for this sale can be found here. Insiders sold a total of 38,041 shares of company stock valued at $6,799,177 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

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.