Atwater Malick LLC Grows Stock Position in Packaging Co. of America (NYSE:PKG)

Atwater Malick LLC boosted its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 12.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,059 shares of the industrial products company's stock after purchasing an additional 1,674 shares during the period. Packaging Co. of America comprises 1.0% of Atwater Malick LLC's investment portfolio, making the stock its 24th largest position. Atwater Malick LLC's holdings in Packaging Co. of America were worth $2,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PKG. Mather Group LLC. grew its stake in shares of Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company's stock worth $582,000 after acquiring an additional 43 shares during the last quarter. Sigma Planning Corp grew its position in Packaging Co. of America by 2.3% during the 4th quarter. Sigma Planning Corp now owns 2,568 shares of the industrial products company's stock valued at $578,000 after purchasing an additional 58 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in Packaging Co. of America by 1.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,637 shares of the industrial products company's stock valued at $819,000 after purchasing an additional 66 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its position in Packaging Co. of America by 1.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,771 shares of the industrial products company's stock valued at $849,000 after purchasing an additional 70 shares during the last quarter. Finally, Colonial Trust Co SC grew its position in Packaging Co. of America by 3.9% during the 4th quarter. Colonial Trust Co SC now owns 2,071 shares of the industrial products company's stock valued at $466,000 after purchasing an additional 78 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.6%

Shares of PKG stock opened at $194.55 on Friday. The stock has a market capitalization of $17.51 billion, a P/E ratio of 21.79, a P/E/G ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a 12-month low of $172.72 and a 12-month high of $250.82. 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 firm's 50 day moving average is $188.33 and its 200 day moving average is $210.30.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is 52.30%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PKG shares. Wall Street Zen cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. 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. UBS Group started coverage on Packaging Co. of America in a research note on Wednesday. They set a "neutral" rating and a $200.00 target price on the stock. Truist Financial dropped their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.