CWA Asset Management Group LLC Invests $515,000 in Packaging Co. of America (NYSE:PKG)

CWA Asset Management Group LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG) in the 3rd quarter, Holdings Channel reports. The fund purchased 2,389 shares of the industrial products company’s stock, valued at approximately $515,000.

Other large investors have also recently modified their holdings of the company. Asset Dedication LLC boosted its position in Packaging Co. of America by 200.0% during the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Packaging Co. of America during the third quarter valued at about $32,000. Tortoise Investment Management LLC purchased a new position in Packaging Co. of America in the second quarter valued at about $33,000. Headlands Technologies LLC purchased a new stake in shares of Packaging Co. of America during the first quarter valued at about $43,000. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at about $50,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PKG shares. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Truist Financial reaffirmed a “buy” rating and set a $252.00 price target (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup raised their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their target price on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Stock Up 0.4 %

Packaging Co. of America stock opened at $241.49 on Tuesday. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $245.00. The company has a market cap of $21.69 billion, a PE ratio of 28.15, a PEG ratio of 3.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43. The business’s 50-day simple moving average is $218.57 and its two-hundred day simple moving average is $198.53.

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 for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

Packaging Co. of America 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.