Boston Trust Walden Corp Sells 53,845 Shares of Packaging Co. of America (NYSE:PKG)

Boston Trust Walden Corp lowered its position in Packaging Co. of America (NYSE:PKG - Free Report) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,743 shares of the industrial products company's stock after selling 53,845 shares during the period. Boston Trust Walden Corp owned 0.25% of Packaging Co. of America worth $48,410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PKG. Register Financial Advisors LLC bought a new stake in Packaging Co. of America during the 1st quarter worth about $25,000. Asset Dedication LLC grew its stake in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company's stock valued at $31,000 after purchasing an additional 112 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Packaging Co. of America in the third quarter valued at approximately $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America in the 2nd quarter worth approximately $33,000. Finally, Headlands Technologies LLC acquired a new position in Packaging Co. of America during the 1st quarter worth $43,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Packaging Co. of America Trading Down 0.7 %

PKG traded down $1.65 during midday trading on Friday, reaching $225.86. 452,016 shares of the company were exchanged, compared to its average volume of 598,833. 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 stock has a market capitalization of $20.28 billion, a P/E ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77. The stock's 50-day simple moving average is $212.04 and its 200 day simple moving average is $194.25. Packaging Co. of America has a one year low of $148.50 and a one year high of $231.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. As a group, analysts forecast that Packaging Co. of America will post 8.77 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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

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.