Monument Capital Management Makes New $294,000 Investment in Packaging Co. of America (NYSE:PKG)

Monument Capital Management acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,807 shares of the industrial products company’s stock, valued at approximately $294,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position in shares of Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after acquiring an additional 30,145 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $16,338,000. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Packaging Co. of America by 60.4% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,020 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 1,890 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Packaging Co. of America by 75.0% in the third quarter. Acadian Asset Management LLC now owns 15,884 shares of the industrial products company’s stock valued at $2,436,000 after acquiring an additional 6,809 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Packaging Co. of America by 16.7% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 700 shares of the industrial products company’s stock valued at $107,000 after acquiring an additional 100 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Insider Transactions at Packaging Co. of America

In other news, CFO Robert P. Mundy sold 10,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $182.51, for a total value 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 $8,478,319.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 sale, the vice president now owns 187,647 shares in the company, valued at $33,975,365.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was 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 in the company, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. Insiders sold 38,041 shares of company stock valued at $6,799,177 over the last three months. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $179.29 on Tuesday. Packaging Co. of America has a 1-year low of $122.20 and a 1-year high of $191.27. The stock has a fifty day simple moving average of $181.44 and a two-hundred day simple moving average of $167.88. 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 firm has a market cap of $16.09 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 4.33 and a beta of 0.78.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a return on equity of 20.25% and a net margin of 9.81%. The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $2.20 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Analysts anticipate that Packaging Co. of America will post 8.31 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Thursday, March 14th. Packaging Co. of America’s payout ratio is currently 58.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup upped their target price on Packaging Co. of America from $172.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. Seaport Res Ptn lowered Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a report on Friday, April 12th. Finally, Truist Financial increased their price objective on Packaging Co. of America from $170.00 to $187.00 and gave the company a “buy” rating in a report on Thursday, January 4th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $171.29.

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.