HighTower Advisors LLC Purchases 40,668 Shares of Packaging Co. of America (NYSE:PKG)

HighTower Advisors LLC lifted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 263,219 shares of the industrial products company's stock after buying an additional 40,668 shares during the period. HighTower Advisors LLC owned about 0.29% of Packaging Co. of America worth $59,258,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC lifted its stake in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after buying an additional 98 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC purchased a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $48,000. Finally, Assetmark Inc. raised its holdings in shares of Packaging Co. of America by 44.6% during the third quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $191.66 on Friday. The firm has a fifty day moving average price of $218.29 and a 200-day moving average price of $222.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market cap of $17.21 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 year high of $250.82.

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Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities analysts anticipate that Packaging Co. of America will post 10.44 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 Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. 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 2.61%. Packaging Co. of America's dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

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

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.

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