Packaging Co. of America (NYSE:PKG) Shares Bought by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 5.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 869,341 shares of the industrial products company’s stock after buying an additional 42,465 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.97% of Packaging Co. of America worth $164,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $880,000. International Assets Investment Management LLC grew its position in shares of Packaging Co. of America by 19,323.7% during the fourth quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after buying an additional 30,145 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its position in shares of Packaging Co. of America by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company’s stock worth $13,419,000 after buying an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Packaging Co. of America by 30.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company’s stock worth $17,168,000 after buying an additional 21,143 shares in the last quarter. Finally, Cim LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth about $2,003,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Packaging Co. of America

In related news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the purchase, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PKG shares. Wells Fargo & Company upped their price target on Packaging Co. of America from $194.00 to $215.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial upped their price target on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a report on Thursday. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Citigroup boosted their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, July 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $0.71 during trading hours on Monday, hitting $198.29. 58,308 shares of the company were exchanged, compared to its average volume of 627,040. Packaging Co. of America has a 1 year low of $143.82 and a 1 year high of $199.60. The company has a current ratio of 2.46, a quick ratio of 1.74 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average of $184.62 and a 200-day moving average of $179.52. The stock has a market capitalization of $17.81 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 5.20 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.14 by $0.06. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts expect that Packaging Co. of America will post 8.62 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 14th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. 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 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.