MML Investors Services LLC Raises Stock Holdings in Packaging Co. of America (NYSE:PKG)

MML Investors Services LLC grew its position in Packaging Co. of America (NYSE:PKG - Free Report) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,209 shares of the industrial products company's stock after acquiring an additional 5,123 shares during the quarter. MML Investors Services LLC's holdings in Packaging Co. of America were worth $5,000,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Packaging Co. of America during the 4th quarter valued at $258,928,000. Raymond James Financial Inc. purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth approximately $50,175,000. Conning Inc. bought a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $32,329,000. Marshall Wace LLP bought a new position in shares of Packaging Co. of America during the fourth quarter valued at approximately $31,432,000. Finally, Vanguard Group Inc. increased its holdings in Packaging Co. of America by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock valued at $2,571,821,000 after buying an additional 133,575 shares during the period. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

PKG has been the topic of a number of analyst reports. Wells Fargo & Company cut their price target on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Truist Financial reduced their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, StockNews.com cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Stock Performance

Shares of Packaging Co. of America stock traded down $0.26 on Tuesday, reaching $186.13. 719,912 shares of the stock were exchanged, compared to its average volume of 699,089. The business has a 50 day moving average price of $195.52 and a two-hundred day moving average price of $217.93. The firm has a market capitalization of $16.74 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a twelve month low of $172.37 and a twelve month high of $250.82. 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 - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. Analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $1.25 per share. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.69%. Packaging Co. of America's dividend payout ratio is presently 52.30%.

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.