Fractal Investments LLC Purchases New Stake in Packaging Co. of America (NYSE:PKG)

Fractal Investments LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 1,800 shares of the industrial products company’s stock, valued at approximately $388,000.

Several other large investors also recently made changes to their positions in the business. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the 3rd quarter valued at $32,000. Asset Dedication LLC raised its position in Packaging Co. of America by 200.0% in the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 112 shares during the period. Tortoise Investment Management LLC acquired a new position in shares of Packaging Co. of America during the second quarter worth about $33,000. Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America in the first quarter worth about $43,000. Finally, Allworth Financial LP grew its stake in shares of Packaging Co. of America by 65.1% in the third quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after buying an additional 123 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 1.1 %

NYSE PKG opened at $232.65 on Wednesday. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 3.25 and a beta of 0.76. Packaging Co. of America has a 12 month low of $148.50 and a 12 month high of $232.98. The company’s fifty day moving average price is $215.37 and its two-hundred day moving average price is $196.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a return on equity of 19.35% and a net margin of 9.46%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the business posted $2.05 EPS. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts predict that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.15%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup upped their target price 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. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Company Profile

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.