8,700 Shares in Packaging Co. of America (NYSE:PKG) Purchased by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,700 shares of the industrial products company’s stock, valued at approximately $1,959,000.

Other large investors also recently bought and sold shares of the company. SYM FINANCIAL Corp lifted its stake in Packaging Co. of America by 3.1% during the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 42 shares during the last quarter. Mather Group LLC. grew its position in shares of Packaging Co. of America by 1.7% during the 4th quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after buying an additional 43 shares during the last quarter. UMB Bank n.a. raised its stake in Packaging Co. of America by 3.9% during the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 44 shares during the period. AlphaMark Advisors LLC lifted its holdings in Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock worth $312,000 after acquiring an additional 52 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its holdings in shares of Packaging Co. of America by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,643 shares of the industrial products company’s stock valued at $370,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PKG shares. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial cut their price objective on shares of Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating on the stock in a research report on Tuesday, April 22nd. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. Finally, Wells Fargo & Company decreased their price objective on Packaging Co. of America from $209.00 to $205.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. 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 has an average rating of “Moderate Buy” and a consensus target price of $231.60.

Packaging Co. of America Stock Down 0.6 %

Shares of Packaging Co. of America stock opened at $180.18 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock has a 50-day moving average price of $192.32 and a 200 day moving average price of $216.43. The company has a market cap of $16.20 billion, a P/E ratio of 20.18, a P/E/G ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. As a group, analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.78%. Packaging Co. of America’s dividend payout ratio is 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.