Cambiar Investors LLC Reduces Stock Position in Packaging Co. of America (NYSE:PKG)

Cambiar Investors LLC lessened its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,363 shares of the industrial products company's stock after selling 3,118 shares during the quarter. Cambiar Investors LLC owned 0.07% of Packaging Co. of America worth $13,648,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PKG. Coldstream Capital Management Inc. raised its position in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company's stock valued at $704,000 after buying an additional 54 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Packaging Co. of America by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company's stock valued at $1,773,000 after purchasing an additional 56 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Packaging Co. of America by 2.1% in the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company's stock valued at $491,000 after purchasing an additional 56 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Packaging Co. of America by 2.4% during the second quarter. Evergreen Capital Management LLC now owns 2,461 shares of the industrial products company's stock valued at $452,000 after purchasing an additional 57 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its holdings in Packaging Co. of America by 2.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,160 shares of the industrial products company's stock worth $410,000 after purchasing an additional 59 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded up $1.05 during mid-day trading on Friday, reaching $229.99. The company's stock had a trading volume of 826,461 shares, compared to its average volume of 558,141. The firm's fifty day moving average price is $214.85 and its two-hundred day moving average price is $195.67. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $232.98. The company has a market capitalization of $20.66 billion, a P/E ratio of 26.81, a PEG ratio of 3.24 and a beta of 0.76.

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 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. Packaging Co. of America's revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts predict that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a yield of 2.17%. Packaging Co. of America's dividend payout ratio is currently 58.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PKG. Citigroup raised their target price on 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. Truist Financial reissued a "buy" rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $221.60.

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.