Altshuler Shaham Ltd Sells 468 Shares of Packaging Co. of America (NYSE:PKG)

Altshuler Shaham Ltd trimmed its position in shares of Packaging Co. of America (NYSE:PKG) by 22.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,622 shares of the industrial products company’s stock after selling 468 shares during the quarter. Altshuler Shaham Ltd’s holdings in Packaging Co. of America were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $880,000. International Assets Investment Management LLC grew its stake in shares of Packaging Co. of America by 19,323.7% in the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock valued at $4,936,000 after purchasing an additional 30,145 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $16,338,000. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Packaging Co. of America by 60.4% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 1,890 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Packaging Co. of America by 90.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,431 shares of the industrial products company’s stock valued at $2,188,000 after purchasing an additional 6,368 shares during the period. 89.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PKG has been the topic of several analyst reports. Citigroup lowered their price objective 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. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a research report on Monday, January 29th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and increased their price target for the stock from $172.00 to $202.00 in a research report on Monday, March 4th. Finally, BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $173.57.

Insiders Place Their Bets

In other news, VP Thomas A. Hassfurther sold 13,850 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $181.06, for a total value of $2,507,681.00. Following the transaction, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Thomas A. Hassfurther sold 13,850 shares of the firm’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 sale, the vice president now owns 187,647 shares of the company’s stock, valued at approximately $33,975,365.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $173.80, for a total value of $2,466,395.80. Following the sale, the vice president now directly owns 183,930 shares in the company, valued at approximately $31,967,034. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,041 shares of company stock valued at $6,799,177. 1.70% of the stock is currently owned by corporate insiders.

Packaging Co. of America Trading Up 1.0 %

NYSE:PKG traded up $1.84 during trading hours on Thursday, hitting $180.38. 312,756 shares of the stock were exchanged, compared to its average volume of 681,939. The company’s 50 day moving average is $182.45 and its two-hundred day moving average is $169.70. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a quick ratio of 1.77, a current ratio of 2.57 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.19 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 4.29 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the business earned $2.20 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.77%. Packaging Co. of America’s dividend payout ratio is 62.50%.

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.