Packaging Co. of America (NYSE:PKG) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Packaging Co. of America (NYSE:PKG) by 6.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,331 shares of the industrial products company’s stock after acquiring an additional 4,292 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Packaging Co. of America were worth $15,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter worth about $377,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Packaging Co. of America by 5.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock worth $5,165,000 after purchasing an additional 1,421 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Packaging Co. of America during the 1st quarter worth about $25,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Packaging Co. of America by 101.7% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,613 shares of the industrial products company’s stock worth $2,394,000 after purchasing an additional 6,360 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Packaging Co. of America by 446.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 73,398 shares of the industrial products company’s stock worth $13,929,000 after purchasing an additional 59,967 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 0.7 %

NYSE PKG opened at $225.86 on Friday. Packaging Co. of America has a one year low of $148.50 and a one year high of $231.30. The company’s 50 day moving average price is $212.04 and its 200 day moving average price is $194.21. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $2.05 earnings per share. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, sell-side analysts predict that Packaging Co. of America will post 8.77 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.21%. Packaging Co. of America’s payout ratio is 62.50%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PKG. Truist Financial reaffirmed a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

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.