AlphaMark Advisors LLC Acquires 52 Shares of Packaging Co. of America (NYSE:PKG)

AlphaMark Advisors LLC lifted its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,384 shares of the industrial products company’s stock after purchasing an additional 52 shares during the period. AlphaMark Advisors LLC’s holdings in Packaging Co. of America were worth $312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKG. State Street Corp raised its position in Packaging Co. of America by 3.2% in the third quarter. State Street Corp now owns 3,948,546 shares of the industrial products company’s stock worth $855,212,000 after acquiring an additional 123,050 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after purchasing an additional 98,223 shares during the last quarter. Geode Capital Management LLC grew its holdings in Packaging Co. of America by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,337,296 shares of the industrial products company’s stock valued at $501,896,000 after purchasing an additional 12,936 shares during the period. FMR LLC increased its position in Packaging Co. of America by 3.4% in the third quarter. FMR LLC now owns 1,076,350 shares of the industrial products company’s stock worth $231,846,000 after buying an additional 35,827 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Paul T. Stecko sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the transaction, the director now owns 8,881 shares in the company, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,300 shares of company stock valued at $8,064,152 over the last three months. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Citigroup lifted their price objective on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company boosted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Truist Financial raised their price target on Packaging Co. of America from $252.00 to $282.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average price target of $238.67.

Packaging Co. of America Price Performance

Shares of NYSE:PKG opened at $240.08 on Friday. The company’s fifty day moving average price is $235.85 and its 200-day moving average price is $219.03. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.36 and a beta of 0.79. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Friday, December 20th. Packaging Co. of America’s payout ratio is presently 58.28%.

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.