TIAA Trust National Association Invests $264,000 in Packaging Co. of America (NYSE:PKG)

TIAA Trust National Association bought a new stake in Packaging Co. of America (NYSE:PKG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,391 shares of the industrial products company’s stock, valued at approximately $264,000.

A number of other hedge funds have also made changes to their positions in PKG. Mitsubishi UFJ Trust & Banking Corp raised its position in Packaging Co. of America by 30.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock valued at $17,168,000 after purchasing an additional 21,143 shares during the period. First Foundation Advisors boosted its position in shares of Packaging Co. of America by 9.1% in the first quarter. First Foundation Advisors now owns 1,961 shares of the industrial products company’s stock worth $372,000 after buying an additional 164 shares during the period. Twin Tree Management LP boosted its position in shares of Packaging Co. of America by 116.7% in the first quarter. Twin Tree Management LP now owns 71,880 shares of the industrial products company’s stock worth $13,641,000 after buying an additional 38,714 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Packaging Co. of America by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,020 shares of the industrial products company’s stock worth $20,310,000 after buying an additional 18,058 shares during the period. Finally, Foundry Partners LLC boosted its position in shares of Packaging Co. of America by 46.0% in the first quarter. Foundry Partners LLC now owns 60,836 shares of the industrial products company’s stock worth $11,545,000 after buying an additional 19,171 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity

In related news, Director Karen E. Gowland bought 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was bought at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the acquisition, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PKG shares. Bank of America upped their target price on Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Company boosted their price target on Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Citigroup boosted their price target on Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Truist Financial boosted their price target on Packaging Co. of America from $208.00 to $215.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research note on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $186.33.

Packaging Co. of America Stock Up 1.0 %

NYSE PKG traded up $1.94 on Monday, hitting $193.15. 258,524 shares of the stock traded hands, compared to its average volume of 623,461. The stock has a 50-day moving average of $183.38 and a 200 day moving average of $178.55. Packaging Co. of America has a twelve month low of $136.54 and a twelve month high of $194.42. The company has a market capitalization of $17.34 billion, a P/E ratio of 23.99, a price-to-earnings-growth ratio of 5.15 and a beta of 0.77. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. Packaging Co. of America’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, analysts expect that Packaging Co. of America will post 8.43 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

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.