Mitsubishi UFJ Asset Management Co. Ltd. Has $14.56 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Packaging Co. of America (NYSE:PKGFree Report) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,962 shares of the industrial products company’s stock after acquiring an additional 2,131 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Packaging Co. of America were worth $14,559,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. raised its stake in shares of Packaging Co. of America by 4.4% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,809 shares of the industrial products company’s stock worth $1,435,000 after purchasing an additional 370 shares during the last quarter. Boston Partners lifted its stake in Packaging Co. of America by 20.1% during the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock valued at $157,836,000 after acquiring an additional 162,420 shares in the last quarter. USA Financial Formulas boosted its holdings in Packaging Co. of America by 23,659.1% during the 4th quarter. USA Financial Formulas now owns 5,227 shares of the industrial products company’s stock worth $852,000 after acquiring an additional 5,205 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Packaging Co. of America by 38.3% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,004 shares of the industrial products company’s stock worth $978,000 after acquiring an additional 1,662 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Packaging Co. of America by 18.2% in the fourth quarter. QRG Capital Management Inc. now owns 29,837 shares of the industrial products company’s stock valued at $4,861,000 after purchasing an additional 4,601 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PKG. Seaport Res Ptn cut shares of Packaging Co. of America from a “buy” rating to a “neutral” rating in a report on Monday, January 29th. Citigroup dropped their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 target price for the company. in a report on Friday, April 12th. Wells Fargo & Company raised Packaging Co. of America from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $187.00 to $191.00 in a research report on Wednesday, April 24th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Packaging Co. of America has an average rating of “Hold” and a consensus price target of $173.57.

Check Out Our Latest Analysis on PKG

Packaging Co. of America Price Performance

PKG opened at $183.13 on Friday. The firm has a 50-day moving average price of $182.15 and a 200-day moving average price of $171.14. 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 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $16.45 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 4.41 and a beta of 0.80.

Packaging Co. of America (NYSE:PKGGet Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business earned $2.20 EPS. Packaging Co. of America’s revenue was up .2% compared to the same quarter last year. Equities analysts expect that Packaging Co. of America will post 8.27 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insider Activity at Packaging Co. of America

In other news, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction dated Thursday, February 22nd. The shares were 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 of the company’s stock, valued at $31,967,034. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of 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 filing with the SEC, which is available through this link. Also, VP Thomas A. Hassfurther sold 14,191 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $173.80, for a total value of $2,466,395.80. Following the completion of the transaction, 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 three months, insiders have sold 38,041 shares of company stock worth $6,799,177. 1.60% of the stock is owned by company insiders.

Packaging Co. of America Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Co. of America (NYSE:PKGFree Report).

Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

Receive News & Ratings for Packaging Co. of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Co. of America and related companies with MarketBeat.com's FREE daily email newsletter.