Connor Clark & Lunn Investment Management Ltd. Invests $1.77 Million in Packaging Co. of America (NYSE:PKG)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,881 shares of the industrial products company’s stock, valued at approximately $1,774,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Family Office LLC grew its stake in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after acquiring an additional 98 shares during the period. Larson Financial Group LLC grew its stake in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth $44,000. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth $48,000. Finally, Assetmark Inc. grew its stake in shares of Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 83 shares during the period. Institutional investors own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reissued a “buy” rating and set a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Wells Fargo & Company dropped their price objective on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and an average target price of $233.00.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $197.37 on Wednesday. The business’s 50-day moving average price is $215.91 and its two-hundred day moving average price is $222.69. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The stock has a market cap of $17.72 billion, a P/E ratio of 22.10, a PEG ratio of 2.41 and a beta of 0.77. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share 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 predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.53%. Packaging Co. of America’s dividend payout ratio is 55.99%.

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.