CenterBook Partners LP Makes New $271,000 Investment in Packaging Co. of America (NYSE:PKG)

CenterBook Partners LP acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,202 shares of the industrial products company’s stock, valued at approximately $271,000.

Several other large investors have also recently made changes to their positions in PKG. Raymond James Financial Inc. purchased a new position in Packaging Co. of America during the 4th quarter valued at approximately $50,175,000. Martingale Asset Management L P grew its holdings in shares of Packaging Co. of America by 3.1% in the fourth quarter. Martingale Asset Management L P now owns 3,513 shares of the industrial products company’s stock valued at $791,000 after purchasing an additional 107 shares in the last quarter. APG Asset Management N.V. increased its position in Packaging Co. of America by 1.7% in the fourth quarter. APG Asset Management N.V. now owns 60,600 shares of the industrial products company’s stock worth $13,175,000 after purchasing an additional 1,000 shares during the last quarter. Advisory Services Network LLC raised its stake in Packaging Co. of America by 2.2% during the fourth quarter. Advisory Services Network LLC now owns 5,140 shares of the industrial products company’s stock valued at $1,157,000 after purchasing an additional 112 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in Packaging Co. of America by 534.3% during the fourth quarter. Bank of Nova Scotia now owns 84,411 shares of the industrial products company’s stock valued at $19,003,000 after purchasing an additional 71,103 shares during the last quarter. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Price Performance

PKG opened at $188.95 on Friday. The business has a fifty day moving average of $200.77 and a 200 day moving average of $220.07. The stock has a market cap of $16.99 billion, a P/E ratio of 21.16, a PEG ratio of 2.41 and a beta of 0.84. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 52-week low of $169.00 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, sell-side analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 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 2.65%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PKG shares. Truist Financial restated a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Citigroup increased their price target on Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $215.00 to $280.00 in a research note on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

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.