F M Investments LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,951 shares of the industrial products company's stock, valued at approximately $439,000.
Other large investors have also added to or reduced their stakes in the company. Bessemer Group Inc. raised its holdings in shares of Packaging Co. of America by 2.8% during the 4th quarter. Bessemer Group Inc. now owns 3,873 shares of the industrial products company's stock valued at $872,000 after buying an additional 105 shares in the last quarter. CenterBook Partners LP purchased a new stake in Packaging Co. of America in the fourth quarter worth approximately $271,000. Raymond James Financial Inc. bought a new position in Packaging Co. of America during the fourth quarter valued at approximately $50,175,000. Martingale Asset Management L P raised its stake in shares of Packaging Co. of America by 3.1% during the fourth quarter. Martingale Asset Management L P now owns 3,513 shares of the industrial products company's stock worth $791,000 after acquiring an additional 107 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in shares of Packaging Co. of America by 1.7% in the 4th quarter. APG Asset Management N.V. now owns 60,600 shares of the industrial products company's stock worth $13,175,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.
Packaging Co. of America Trading Down 1.1 %
Shares of Packaging Co. of America stock traded down $2.14 during midday trading on Tuesday, reaching $188.51. 447,513 shares of the company's stock traded hands, compared to its average volume of 698,036. The stock has a 50 day moving average of $200.38 and a 200-day moving average of $219.93. Packaging Co. of America has a 12 month low of $169.00 and a 12 month high of $250.82. The company has a market cap of $16.95 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.
Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 19.67% and a net margin of 9.60%. As a group, equities analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 2.65%. Packaging Co. of America's dividend payout ratio (DPR) is 55.99%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the stock. 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. Truist Financial reiterated a "buy" rating and issued a $265.00 price objective (down previously from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Citigroup lifted their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group raised Packaging Co. of America from a "hold" rating to a "buy" rating and increased their price objective for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $237.80.
Check Out Our Latest Research Report on PKG
About Packaging Co. of America
(
Free Report)
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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