Patrick M Sweeney & Associates Inc. Has $203,000 Stake in Packaging Co. of America (NYSE:PKG)

Patrick M Sweeney & Associates Inc. decreased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 8.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 900 shares of the industrial products company’s stock after selling 85 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in Packaging Co. of America were worth $203,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of Packaging Co. of America by 3.9% during the 4th quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after buying an additional 44 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 49 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Packaging Co. of America by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock worth $370,000 after purchasing an additional 52 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Packaging Co. of America by 3.9% in the 4th quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after purchasing an additional 52 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Packaging Co. of America by 0.5% in the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

Shares of PKG opened at $239.63 on Tuesday. The company has a market cap of $21.52 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $235.88 and a 200-day moving average price of $219.71. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 20th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.09%. Packaging Co. of America’s dividend payout ratio is 58.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Wells Fargo & Company increased their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price target for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Truist Financial raised their target price on Packaging Co. of America from $252.00 to $282.00 and gave the company a “buy” rating in a research report on Monday, January 6th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and a consensus target price of $238.67.

Insider Activity at Packaging Co. of America

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

Packaging Co. of America Company 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.