BI Asset Management Fondsmaeglerselskab A S Makes New $1.23 Million Investment in Packaging Co. of America (NYSE:PKG)

BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Packaging Co. of America (NYSE:PKG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,452 shares of the industrial products company's stock, valued at approximately $1,227,000.

A number of other institutional investors have also recently bought and sold shares of PKG. Fortitude Family Office LLC increased its holdings in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Packaging Co. of America in the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new position in Packaging Co. of America during the fourth quarter valued at $48,000. Rialto Wealth Management LLC purchased a new stake in Packaging Co. of America in the fourth quarter worth $63,000. Finally, Intact Investment Management Inc. bought a new stake in shares of Packaging Co. of America in the fourth quarter valued at $68,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock traded up $0.92 during midday trading on Monday, hitting $185.74. 182,357 shares of the company's stock were exchanged, compared to its average volume of 696,331. The company has a market cap of $16.70 billion, a P/E ratio of 20.82, a PEG ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The stock has a 50-day moving average price of $196.03 and a two-hundred day moving average price of $218.15. Packaging Co. of America has a 52-week low of $172.37 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. On average, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.69%. Packaging Co. of America's dividend payout ratio (DPR) is presently 52.30%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PKG shares. Wells Fargo & Company cut their price target on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday. Truist Financial reduced their target price on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Finally, Citigroup raised their price target on Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Packaging Co. of America currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.60.

About Packaging Co. of America

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.