Bahl & Gaynor Inc. Purchases 27,924 Shares of Packaging Co. of America (NYSE:PKG)

Bahl & Gaynor Inc. raised its position in Packaging Co. of America (NYSE:PKG) by 14.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 225,834 shares of the industrial products company’s stock after buying an additional 27,924 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Packaging Co. of America were worth $50,842,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock valued at $691,138,000 after acquiring an additional 132,836 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Packaging Co. of America by 10.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,084 shares of the industrial products company’s stock worth $469,000 after buying an additional 192 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of Packaging Co. of America by 13.0% during the 4th quarter. Schechter Investment Advisors LLC now owns 1,284 shares of the industrial products company’s stock worth $289,000 after buying an additional 148 shares during the last quarter. Jones Financial Companies Lllp grew its position in Packaging Co. of America by 79.0% in the fourth quarter. Jones Financial Companies Lllp now owns 666 shares of the industrial products company’s stock valued at $150,000 after acquiring an additional 294 shares during the last quarter. Finally, Modera Wealth Management LLC raised its stake in Packaging Co. of America by 16.7% during the fourth quarter. Modera Wealth Management LLC now owns 2,825 shares of the industrial products company’s stock worth $636,000 after acquiring an additional 405 shares in the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Stock Performance

PKG stock opened at $209.39 on Tuesday. The firm has a market cap of $18.80 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $221.83 and a 200-day moving average price of $222.91. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. Packaging Co. of America’s dividend payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Citigroup increased their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price target for the company from $215.00 to $280.00 in a research note on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.