First United Bank & Trust Makes New $289,000 Investment in Packaging Co. of America (NYSE:PKG)

First United Bank & Trust purchased a new position in shares of Packaging Co. of America (NYSE:PKG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,457 shares of the industrial products company’s stock, valued at approximately $289,000.

A number of other hedge funds also recently bought and sold shares of the business. Jackson Creek Investment Advisors LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC increased its stake in Packaging Co. of America by 25.3% during the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock worth $2,180,000 after acquiring an additional 1,954 shares during the last quarter. Distillate Capital Partners LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at $15,828,000. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter valued at $6,966,000. Finally, Sciencast Management LP acquired a new position in Packaging Co. of America during the 4th quarter worth $2,853,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

PKG opened at $193.22 on Thursday. The stock has a market cap of $17.39 billion, a P/E ratio of 21.64, a P/E/G ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $188.53 and its 200 day simple moving average is $208.98. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82.

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

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 52.30%.

Analyst Ratings Changes

Several research firms recently commented on PKG. Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Sunday, April 6th. UBS Group began coverage on Packaging Co. of America in a research note on Wednesday, June 4th. They set a “neutral” rating and a $200.00 price objective for the company. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research note on Friday, May 9th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America has a consensus rating of “Moderate Buy” and a consensus target price of $222.17.

About Packaging Co. of America

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.