Sumitomo Mitsui Trust Group Inc. Has $49.54 Million Position in Packaging Co. of America (NYSE:PKG)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,989 shares of the industrial products company’s stock after purchasing an additional 2,325 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.26% of Packaging Co. of America worth $49,540,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PKG. Boston Partners increased its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Millennium Management LLC increased its stake in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after purchasing an additional 262,315 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Packaging Co. of America by 164.3% during the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock valued at $73,272,000 after purchasing an additional 249,483 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Packaging Co. of America by 41,151.7% in the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock valued at $33,499,000 after purchasing an additional 155,142 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after purchasing an additional 86,005 shares during the period. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, the chief financial officer now owns 43,954 shares in the company, valued at $10,576,211.48. This trade represents a 22.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the sale, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.

Packaging Co. of America Stock Up 0.1 %

PKG stock opened at $235.81 on Friday. The company has a market cap of $21.18 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 3.35 and a beta of 0.76. The business has a 50-day simple moving average of $221.23 and a 200 day simple moving average of $199.93. Packaging Co. of America has a 52 week low of $148.50 and a 52 week high of $245.00. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 earnings per share. Sell-side analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.12%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of research analyst reports. Truist Financial restated a “buy” rating and set a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday. Wells Fargo & Company lifted 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. Finally, Citigroup lifted their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $221.60.

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.