Adams Natural Resources Fund Inc. Raises Holdings in Packaging Co. of America (NYSE:PKG)

Adams Natural Resources Fund Inc. raised its stake in Packaging Co. of America (NYSE:PKG) by 25.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,400 shares of the industrial products company’s stock after purchasing an additional 1,500 shares during the quarter. Adams Natural Resources Fund Inc.’s holdings in Packaging Co. of America were worth $1,666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the 4th quarter worth $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter worth $63,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG stock opened at $194.30 on Friday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.45 billion, a P/E ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. The business has a 50 day simple moving average of $214.03 and a 200-day simple moving average of $222.24. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analyst Ratings Changes

A number of research firms have weighed in on PKG. Wells Fargo & Company cut their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research note on Thursday, January 30th. Truist Financial restated a “buy” rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup increased their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their target price for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Company Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.