Van ECK Associates Corp Raises Stake in Packaging Co. of America (NYSE:PKG)

Van ECK Associates Corp grew its stake in shares of Packaging Co. of America (NYSE:PKGGet Rating) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,696 shares of the industrial products company’s stock after purchasing an additional 166 shares during the quarter. Van ECK Associates Corp’s holdings in Packaging Co. of America were worth $1,426,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. OmniStar Financial Group Inc. raised its stake in shares of Packaging Co. of America by 3.5% during the 2nd quarter. OmniStar Financial Group Inc. now owns 2,280 shares of the industrial products company’s stock worth $313,000 after buying an additional 77 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Packaging Co. of America by 5.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 1,456 shares of the industrial products company’s stock worth $202,000 after buying an additional 79 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Packaging Co. of America by 1.3% during the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 6,246 shares of the industrial products company’s stock worth $975,000 after buying an additional 82 shares during the period. Ancora Advisors LLC raised its stake in shares of Packaging Co. of America by 15.3% during the 1st quarter. Ancora Advisors LLC now owns 633 shares of the industrial products company’s stock worth $85,000 after buying an additional 84 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Packaging Co. of America by 2.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 4,103 shares of the industrial products company’s stock worth $564,000 after buying an additional 92 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PKG. Bank of America downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $146.00 to $139.00 in a research note on Thursday, December 15th. Truist Financial reduced their price objective on Packaging Co. of America from $175.00 to $152.00 and set a “buy” rating for the company in a research note on Thursday, September 29th. Deutsche Bank Aktiengesellschaft reduced their price objective on Packaging Co. of America from $104.00 to $99.00 in a research note on Thursday, October 27th. Wells Fargo & Company increased their price objective on Packaging Co. of America from $124.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, January 9th. Finally, Citigroup increased their price objective on Packaging Co. of America from $123.00 to $130.00 in a research note on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has a consensus rating of “Hold” and an average price target of $135.22.

Packaging Co. of America Stock Down 0.4 %

Shares of PKG opened at $135.40 on Friday. Packaging Co. of America has a 52-week low of $110.56 and a 52-week high of $168.50. The company has a market capitalization of $12.53 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The stock has a fifty day simple moving average of $131.12 and a two-hundred day simple moving average of $130.69. The company has a quick ratio of 1.99, a current ratio of 3.02 and a debt-to-equity ratio of 0.63.

Packaging Co. of America (NYSE:PKGGet Rating) last issued its earnings results on Monday, October 24th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.83. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $2.69 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities analysts forecast that Packaging Co. of America will post 11.02 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Monday, December 19th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Friday, December 16th. Packaging Co. of America’s dividend payout ratio is presently 45.54%.

About Packaging Co. of America

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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Institutional Ownership by Quarter for Packaging Co. of America (NYSE:PKG)

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