Packaging Co. of America (NYSE:PKG) Stock Holdings Increased by International Assets Investment Management LLC

International Assets Investment Management LLC raised its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 41,151.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,519 shares of the industrial products company's stock after acquiring an additional 155,142 shares during the quarter. International Assets Investment Management LLC owned approximately 0.17% of Packaging Co. of America worth $33,499,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PKG. CANADA LIFE ASSURANCE Co grew its stake in Packaging Co. of America by 4.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 70,689 shares of the industrial products company's stock worth $13,419,000 after purchasing an additional 3,078 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Packaging Co. of America by 30.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 90,686 shares of the industrial products company's stock worth $17,168,000 after acquiring an additional 21,143 shares in the last quarter. Summit Financial Strategies Inc. increased its holdings in shares of Packaging Co. of America by 5.5% in the 2nd quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock valued at $42,809,000 after acquiring an additional 12,129 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Packaging Co. of America by 6.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 224,273 shares of the industrial products company's stock valued at $41,839,000 after acquiring an additional 14,277 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its stake in Packaging Co. of America by 10.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company's stock worth $20,678,000 after purchasing an additional 10,516 shares during the last quarter. 89.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PKG. StockNews.com upgraded shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a "neutral" rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Truist Financial reaffirmed a "buy" rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have issued a 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 $221.60.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded down $1.39 during midday trading on Tuesday, reaching $226.06. 528,564 shares of the stock traded hands, compared to its average volume of 599,537. The firm has a fifty day moving average price of $213.23 and a two-hundred day moving average price of $194.85. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $231.30. The firm has a market cap of $20.30 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 3.20 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60.

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, topping the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The business's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities research analysts forecast that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Announces Dividend

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

About Packaging Co. of America

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.