Packaging Co. of America (NYSE:PKG) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 19.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,743 shares of the industrial products company’s stock after selling 53,845 shares during the quarter. Boston Trust Walden Corp owned 0.25% of Packaging Co. of America worth $48,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PKG. Forsta AP Fonden increased its stake in shares of Packaging Co. of America by 4.5% during the third quarter. Forsta AP Fonden now owns 18,700 shares of the industrial products company’s stock worth $4,028,000 after buying an additional 800 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Packaging Co. of America by 6.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,331 shares of the industrial products company’s stock worth $15,386,000 after acquiring an additional 4,292 shares in the last quarter. Allworth Financial LP increased its position in shares of Packaging Co. of America by 65.1% in the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 123 shares during the last quarter. Dumont & Blake Investment Advisors LLC acquired a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $202,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of Packaging Co. of America by 0.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 74,487 shares of the industrial products company’s stock worth $16,044,000 after purchasing an additional 320 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on PKG. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday. Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday. Finally, Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Down 0.7 %

Packaging Co. of America stock opened at $225.86 on Friday. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 4.24 and a beta of 0.77. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The stock has a 50 day moving average of $212.04 and a two-hundred day moving average of $194.21. Packaging Co. of America has a twelve month low of $148.50 and a twelve month high of $231.30.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business’s revenue was up 14.9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, research analysts expect that Packaging Co. of America will post 8.77 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.21%. Packaging Co. of America’s dividend payout ratio is currently 62.50%.

About Packaging Co. of America

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.