SG Americas Securities LLC increased its position in Packaging Corp Of America (NYSE:PKG) by 659.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,406 shares of the industrial products company’s stock after purchasing an additional 120,710 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of Packaging Corp Of America worth $10,177,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in PKG. CSat Investment Advisory L.P. grew its stake in Packaging Corp Of America by 73.8% in the fourth quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock worth $25,000 after purchasing an additional 127 shares in the last quarter. Truewealth LLC bought a new position in Packaging Corp Of America in the fourth quarter worth approximately $33,000. Capital Investment Advisory Services LLC bought a new position in Packaging Corp Of America in the fourth quarter worth approximately $41,000. Aspire Private Capital LLC bought a new position in Packaging Corp Of America in the fourth quarter worth approximately $41,000. Finally, Horan Capital Advisors LLC. bought a new position in Packaging Corp Of America in the first quarter worth approximately $41,000. 87.22% of the stock is currently owned by institutional investors.
NYSE PKG traded down $2.49 during midday trading on Wednesday, hitting $92.09. 1,010,200 shares of the company traded hands, compared to its average volume of 871,617. The company has a current ratio of 3.05, a quick ratio of 1.93 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $9.15 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 2.37 and a beta of 1.77. Packaging Corp Of America has a 52 week low of $77.90 and a 52 week high of $124.70.
Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. On average, equities analysts predict that Packaging Corp Of America will post 8.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 3.43%. Packaging Corp Of America’s dividend payout ratio is presently 39.35%.
Several research analysts recently issued reports on PKG shares. UBS Group started coverage on Packaging Corp Of America in a research note on Wednesday, May 15th. They issued a “buy” rating and a $109.00 price objective on the stock. Bank of America reissued a “buy” rating and issued a $112.00 price objective (up previously from $105.00) on shares of Packaging Corp Of America in a research note on Friday, April 5th. Stephens cut Packaging Corp Of America from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock. in a research note on Friday, April 26th. ValuEngine raised Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Packaging Corp Of America presently has a consensus rating of “Hold” and an average target price of $102.64.
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About Packaging Corp Of America
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.
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