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Essex Savings Bank purchased a new position in Packaging Co. of America (NYSE:PKG – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,580 shares of the industrial products company’s stock, valued at approximately $202,000.
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Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. increased its position in Packaging Co. of America by 1.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 6,246 shares of the industrial products company’s stock valued at $975,000 after acquiring an additional 82 shares during the last quarter. Ancora Advisors LLC grew its holdings in Packaging Co. of America by 15.3% during the 1st quarter. Ancora Advisors LLC now owns 633 shares of the industrial products company’s stock valued at $85,000 after purchasing an additional 84 shares during the last quarter. Utah Retirement Systems raised its position in Packaging Co. of America by 0.6% in the 3rd quarter. Utah Retirement Systems now owns 16,655 shares of the industrial products company’s stock worth $1,870,000 after purchasing an additional 100 shares during the period. Northcape Wealth Management LLC boosted its position in shares of Packaging Co. of America by 5.5% during the third quarter. Northcape Wealth Management LLC now owns 2,003 shares of the industrial products company’s stock valued at $225,000 after buying an additional 105 shares during the period. Finally, Centaurus Financial Inc. boosted its position in shares of Packaging Co. of America by 9.4% during the third quarter. Centaurus Financial Inc. now owns 1,279 shares of the industrial products company’s stock valued at $144,000 after buying an additional 110 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on PKG shares. Wells Fargo & Company boosted their price objective on Packaging Co. of America from $124.00 to $125.00 and gave the company an “equal weight” rating in a report on Monday, January 9th. Citigroup lifted their price target on shares of Packaging Co. of America from $123.00 to $130.00 in a research note on Wednesday, January 4th. Bank of America cut Packaging Co. of America from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $146.00 to $139.00 in a research note on Thursday, December 15th. Truist Financial upped their target price on Packaging Co. of America from $138.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, January 27th. Finally, StockNews.com initiated coverage on Packaging Co. of America in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Packaging Co. of America currently has a consensus rating of “Hold” and a consensus price target of $131.88.
Packaging Co. of America Price Performance
Shares of PKG opened at $131.08 on Friday. The company has a 50 day moving average of $136.67 and a two-hundred day moving average of $129.79. The company has a market cap of $11.76 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 2.91 and a beta of 0.88. The company has a quick ratio of 1.75, a current ratio of 2.87 and a debt-to-equity ratio of 0.68. Packaging Co. of America has a twelve month low of $110.56 and a twelve month high of $168.50.
Packaging Co. of America (NYSE:PKG – Get Rating) last announced its earnings results on Thursday, January 26th. The industrial products company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.11. Packaging Co. of America had a return on equity of 27.00% and a net margin of 12.12%. The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the prior year, the company posted $2.76 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Packaging Co. of America will post 9.15 earnings per share for the current fiscal year.
Packaging Co. of America Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Tuesday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 3.81%. Packaging Co. of America’s payout ratio is 45.41%.
Packaging Co. of America Profile
(Get Rating)
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.
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