Aegis Wealth Management LLC Purchases New Shares in Packaging Co. of America (NYSE:PKG)

Aegis Wealth Management LLC purchased a new stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,702 shares of the industrial products company's stock, valued at approximately $383,000.

Other institutional investors also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $293,000. AlphaQuest LLC boosted its position in Packaging Co. of America by 25.3% during the fourth quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company's stock worth $2,180,000 after purchasing an additional 1,954 shares during the period. Distillate Capital Partners LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $15,828,000. Strategic Financial Concepts LLC bought a new position in Packaging Co. of America during the fourth quarter worth about $6,966,000. Finally, Sciencast Management LP bought a new position in Packaging Co. of America during the fourth quarter worth about $2,853,000. Institutional investors own 89.78% of the company's stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock traded up $0.02 during midday trading on Friday, hitting $193.02. 1,062,503 shares of the company's stock were exchanged, compared to its average volume of 724,197. Packaging Co. of America has a 52-week low of $172.72 and a 52-week high of $250.82. The stock has a 50-day moving average price of $188.78 and a two-hundred day moving average price of $211.81. 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 company has a market cap of $17.37 billion, a P/E ratio of 21.61, a PEG ratio of 2.41 and a beta of 0.85.

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. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. 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 will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, June 13th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research note on Thursday, February 13th. Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 target price (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. Truist Financial lowered their price target on shares of Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Wall Street Zen cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Company 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.