Ethic Inc. Purchases 3,061 Shares of Packaging Co. of America (NYSE:PKG)

Ethic Inc. grew its position in Packaging Co. of America (NYSE:PKG) by 42.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,261 shares of the industrial products company’s stock after buying an additional 3,061 shares during the period. Ethic Inc.’s holdings in Packaging Co. of America were worth $2,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PKG. Jackson Creek Investment Advisors LLC acquired a new stake in Packaging Co. of America in the fourth quarter valued at approximately $293,000. AlphaQuest LLC lifted its holdings in shares of Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after purchasing 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 4th quarter worth $15,828,000. Strategic Financial Concepts LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth $6,966,000. Finally, Sciencast Management LP purchased 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research note on Friday. 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 report on Tuesday, April 22nd. 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. Finally, 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.60.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $181.42 on Monday. Packaging Co. of America has a 52 week low of $172.72 and a 52 week high of $250.82. The business’s 50 day moving average price is $190.72 and its 200 day moving average price is $215.51. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The firm has a market cap of $16.31 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating the consensus estimate of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.76%. The ex-dividend date is Friday, June 13th. Packaging Co. of America’s 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.