Tower Research Capital LLC TRC Buys 4,581 Shares of Packaging Co. of America (NYSE:PKG)

Tower Research Capital LLC TRC lifted its stake in Packaging Co. of America (NYSE:PKG) by 80.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,310 shares of the industrial products company’s stock after buying an additional 4,581 shares during the period. Tower Research Capital LLC TRC’s holdings in Packaging Co. of America were worth $2,321,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PKG. Norges Bank bought a new position in shares of Packaging Co. of America during the 4th quarter worth about $258,928,000. Raymond James Financial Inc. acquired a new position in Packaging Co. of America in the fourth quarter worth about $50,175,000. Conning Inc. bought a new position in Packaging Co. of America during the fourth quarter worth about $32,329,000. Marshall Wace LLP acquired a new stake in Packaging Co. of America during the fourth quarter valued at approximately $31,432,000. Finally, Vanguard Group Inc. grew its stake in shares of Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after purchasing an additional 133,575 shares during the period. 89.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on PKG. Truist Financial cut 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 report on Tuesday. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup upped their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $232.40.

Packaging Co. of America Trading Up 2.3 %

PKG opened at $186.29 on Wednesday. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The firm has a 50-day moving average price of $197.60 and a two-hundred day moving average price of $218.74. The stock has a market capitalization of $16.75 billion, a PE ratio of 20.86, a PEG ratio of 2.41 and a beta of 0.84. 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 (NYSE:PKG) last posted its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, equities analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders 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 yield of 2.68%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Packaging Co. of America 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.