Advisors Asset Management Inc. Grows Position in Packaging Co. of America (NYSE:PKG)

Advisors Asset Management Inc. increased its holdings in Packaging Co. of America (NYSE:PKG) by 13.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,283 shares of the industrial products company’s stock after acquiring an additional 1,374 shares during the quarter. Advisors Asset Management Inc.’s holdings in Packaging Co. of America were worth $2,141,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PKG. FIL Ltd increased its holdings in shares of Packaging Co. of America by 2.6% during the fourth quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after acquiring an additional 55,000 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after acquiring an additional 27,974 shares in the last quarter. Norges Bank bought a new position in shares of Packaging Co. of America during the fourth quarter valued at $163,314,000. Boston Partners increased its holdings in shares of Packaging Co. of America by 20.1% during the fourth 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. Finally, Bank of New York Mellon Corp increased its holdings in shares of Packaging Co. of America by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock valued at $165,962,000 after acquiring an additional 5,842 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a research report on Friday, April 12th. Citigroup increased their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a research report on Monday, July 8th. Truist Financial increased their price objective on Packaging Co. of America from $215.00 to $219.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America raised 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. Finally, Wells Fargo & Company raised their target price on Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.50.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were bought at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now owns 916 shares of the company’s stock, valued at $166,766.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is owned by corporate insiders.

Packaging Co. of America Stock Up 2.5 %

PKG stock opened at $199.00 on Friday. Packaging Co. of America has a twelve month low of $143.82 and a twelve month high of $199.42. 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 stock has a market cap of $17.87 billion, a P/E ratio of 24.88, a PEG ratio of 5.26 and a beta of 0.77. The business’s 50-day moving average price is $184.62 and its 200-day moving average price is $179.43.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Packaging Co. of America had a return on equity of 18.39% and a net margin of 9.06%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.31 EPS. On average, equities research analysts forecast that Packaging Co. of America will post 8.62 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.51%. 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.