Shulman DeMeo Asset Management LLC Takes $201,000 Position in Packaging Co. of America (NYSE:PKG)


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Shulman DeMeo Asset Management LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,458 shares of the industrial products company’s stock, valued at approximately $201,000.

Several other large investors have also recently modified their holdings of the company. Advisor Partners LLC boosted its holdings in Packaging Co. of America by 1.4% in the third quarter. Advisor Partners LLC now owns 5,870 shares of the industrial products company’s stock worth $640,000 after purchasing an additional 79 shares during the last quarter. AlphaMark Advisors LLC increased its position in Packaging Co. of America by 30.6% in the third quarter. AlphaMark Advisors LLC now owns 384 shares of the industrial products company’s stock worth $42,000 after buying an additional 90 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Packaging Co. of America by 1.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 5,728 shares of the industrial products company’s stock worth $624,000 after buying an additional 94 shares in the last quarter. BBVA USA Bancshares Inc. increased its position in Packaging Co. of America by 0.7% in the third quarter. BBVA USA Bancshares Inc. now owns 13,247 shares of the industrial products company’s stock worth $1,398,000 after buying an additional 95 shares in the last quarter. Finally, Cypress Capital Group increased its position in Packaging Co. of America by 2.0% in the fourth quarter. Cypress Capital Group now owns 6,071 shares of the industrial products company’s stock worth $837,000 after buying an additional 118 shares in the last quarter. 89.53% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on PKG shares. KeyCorp upgraded Packaging Co. of America from an “underweight” rating to a “sector weight” rating in a research report on Monday, December 7th. BidaskClub upgraded Packaging Co. of America from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 10th. Argus upped their price target on Packaging Co. of America from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $115.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Zacks Investment Research lowered Packaging Co. of America from a “buy” rating to a “hold” rating and set a $143.00 price objective for the company. in a research note on Tuesday, January 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $127.27.

In other news, VP Thomas A. Hassfurther sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 17th. The stock was sold at an average price of $135.00, for a total value of $675,000.00. Following the completion of the sale, the vice president now directly owns 144,294 shares of the company’s stock, valued at approximately $19,479,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bruce A. Ridley sold 2,516 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $117.64, for a total value of $295,982.24. Following the completion of the sale, the senior vice president now directly owns 15,674 shares of the company’s stock, valued at $1,843,889.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,516 shares of company stock valued at $6,194,032. 1.60% of the stock is owned by corporate insiders.

Shares of Packaging Co. of America stock opened at $143.65 on Thursday. The stock has a 50 day moving average of $136.46 and a 200 day moving average of $115.44. Packaging Co. of America has a 12 month low of $71.05 and a 12 month high of $148.14. The firm has a market cap of $13.62 billion, a PE ratio of 26.60, a PEG ratio of 4.42 and a beta of 1.12. The company has a current ratio of 3.89, a quick ratio of 2.67 and a debt-to-equity ratio of 0.80.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Saturday, October 31st. The industrial products company reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.16. Packaging Co. of America had a return on equity of 19.99% and a net margin of 7.65%. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Packaging Co. of America will post 5.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Monday, December 21st will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, December 18th. This is a positive change from Packaging Co. of America’s previous quarterly dividend of $0.79. This represents a $4.00 dividend on an annualized basis and a yield of 2.78%. Packaging Co. of America’s dividend payout ratio is presently 52.29%.

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 Packaging and Paper segments. 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.

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

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