Norden Group LLC Invests $530,000 in Packaging Co. of America (NYSE:PKG)

Norden Group LLC bought a new stake in Packaging Co. of America (NYSE:PKGFree Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,793 shares of the industrial products company’s stock, valued at approximately $530,000.

A number of other large investors have also added to or reduced their stakes in the company. Fortis Group Advisors LLC purchased a new position in shares of Packaging Co. of America during the 3rd quarter valued at about $46,000. Anchor Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $37,000. Capital Investment Advisors LLC boosted its stake in shares of Packaging Co. of America by 2.5% in the 4th quarter. Capital Investment Advisors LLC now owns 68,319 shares of the industrial products company’s stock valued at $11,130,000 after purchasing an additional 1,642 shares in the last quarter. Juncture Wealth Strategies LLC grew its holdings in shares of Packaging Co. of America by 12.0% during the 4th quarter. Juncture Wealth Strategies LLC now owns 2,798 shares of the industrial products company’s stock valued at $456,000 after purchasing an additional 300 shares during the last quarter. Finally, Wedmont Private Capital purchased a new position in Packaging Co. of America in the 4th quarter worth $240,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $166,766.96. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 1.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Wells Fargo & Company lifted their price target on Packaging Co. of America from $191.00 to $194.00 and gave the stock an “overweight” rating in a research note on Wednesday. BNP Paribas lowered Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective for the company. in a research note on Friday, April 12th. Bank of America upped their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Finally, Truist Financial increased their price target on shares of Packaging Co. of America from $191.00 to $208.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $185.17.

Read Our Latest Analysis on Packaging Co. of America

Packaging Co. of America Stock Performance

NYSE:PKG opened at $179.68 on Thursday. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a twelve month low of $131.71 and a twelve month high of $191.39. The stock has a market cap of $16.13 billion, a P/E ratio of 22.46, a price-to-earnings-growth ratio of 4.86 and a beta of 0.77. The firm’s fifty day simple moving average is $181.87 and its 200 day simple moving average is $177.23.

Packaging Co. of America (NYSE:PKGGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company earned $2.20 earnings per share. Packaging Co. of America’s quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Packaging Co. of America will post 8.33 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, June 14th. Packaging Co. of America’s payout ratio is presently 62.50%.

About Packaging Co. of America

(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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