American National Bank & Trust Has $1.92 Million Stock Holdings in Packaging Co. of America (NYSE:PKG)

American National Bank & Trust increased its position in Packaging Co. of America (NYSE:PKG - Free Report) by 1,681.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,674 shares of the industrial products company's stock after buying an additional 9,131 shares during the quarter. American National Bank & Trust's holdings in Packaging Co. of America were worth $1,916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC bought a new position in shares of Packaging Co. of America in the fourth quarter valued at $250,000. Perigon Wealth Management LLC increased its holdings in shares of Packaging Co. of America by 17.1% in the fourth quarter. Perigon Wealth Management LLC now owns 1,408 shares of the industrial products company's stock valued at $331,000 after buying an additional 206 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Packaging Co. of America by 1.1% in the fourth quarter. Forsta AP Fonden now owns 18,900 shares of the industrial products company's stock valued at $4,255,000 after buying an additional 200 shares in the last quarter. Caprock Group LLC increased its holdings in shares of Packaging Co. of America by 18.7% in the fourth quarter. Caprock Group LLC now owns 2,925 shares of the industrial products company's stock valued at $662,000 after buying an additional 460 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Packaging Co. of America by 4.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,629 shares of the industrial products company's stock valued at $592,000 after buying an additional 119 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 1.0%

Shares of PKG stock traded up $1.88 on Thursday, hitting $195.22. The stock had a trading volume of 339,998 shares, compared to its average volume of 727,242. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The firm has a market cap of $17.57 billion, a P/E ratio of 21.86, a PEG ratio of 2.41 and a beta of 0.85. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $188.40 and a two-hundred day moving average price of $210.60.

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, topping analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. As a group, analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

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 2.56%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is presently 52.30%.

Analyst Upgrades and Downgrades

PKG has been the topic of several recent research reports. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. UBS Group began coverage on Packaging Co. of America in a research report on Wednesday. They set a "neutral" rating and a $200.00 target price on the stock. Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Truist Financial decreased their price objective on 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. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $222.17.

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.