Sciencast Management LP Buys New Stake in Packaging Co. of America (NYSE:PKG)

Sciencast Management LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,674 shares of the industrial products company's stock, valued at approximately $2,853,000.

Several other large investors also recently added to or reduced their stakes in PKG. Larson Financial Group LLC raised its stake 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 acquiring an additional 115 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter valued at $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth $48,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth $63,000. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

PKG stock traded down $2.19 during trading on Tuesday, reaching $198.62. The company had a trading volume of 999,426 shares, compared to its average volume of 622,802. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a twelve month low of $169.00 and a twelve month high of $250.82. The company has a market cap of $17.84 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The firm has a 50-day simple moving average of $212.76 and a 200-day simple moving average of $222.43.

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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 for the quarter, missing analysts' consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

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. This represents a $5.00 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, March 14th. Packaging Co. of America's payout ratio is 55.99%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their price objective on 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. 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. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Friday. 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 stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Finally, Truist Financial reaffirmed a "buy" rating and set a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.