Tower Research Capital LLC TRC Increases Stock Holdings in Packaging Co. of America (NYSE:PKG)

Tower Research Capital LLC TRC increased its holdings in Packaging Co. of America (NYSE:PKGFree Report) by 149.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,035 shares of the industrial products company’s stock after purchasing an additional 7,819 shares during the period. Tower Research Capital LLC TRC’s holdings in Packaging Co. of America were worth $2,124,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Packaging Co. of America in the third quarter valued at $25,000. First Horizon Advisors Inc. grew its position in shares of Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares during the period. Gables Capital Management Inc. purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $31,000. Anchor Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at $37,000. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Packaging Co. of America in the third quarter valued at $46,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, Director Karen E. Gowland bought 300 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were acquired at an average cost of $182.06 per share, with a total value of $54,618.00. Following the completion of the transaction, the director now owns 916 shares in the company, valued at $166,766.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.70% of the company’s stock.

Wall Street Analyst Weigh In

PKG has been the topic of a number of research analyst reports. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the company from $172.00 to $202.00 in a report on Monday, March 4th. Citigroup reduced their target price on Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. Wells Fargo & Company upgraded Packaging Co. of America from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $187.00 to $191.00 in a report on Wednesday, April 24th. Finally, Truist Financial lifted their target price on Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America presently has an average rating of “Moderate Buy” and an average target price of $176.57.

Get Our Latest Research Report on PKG

Packaging Co. of America Trading Up 0.3 %

Shares of PKG opened at $183.58 on Monday. The stock’s 50-day moving average is $181.07 and its two-hundred day moving average is $174.03. The stock has a market cap of $16.49 billion, a PE ratio of 22.95, a P/E/G ratio of 7.85 and a beta of 0.78. Packaging Co. of America has a 12 month low of $127.69 and a 12 month high of $191.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.46 and a quick ratio of 1.74.

Packaging Co. of America (NYSE:PKGGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Equities analysts forecast that Packaging Co. of America will post 8.27 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s payout ratio is 62.50%.

Packaging Co. of America Company Profile

(Free Report)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. 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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