Boston Trust Walden Corp Sells 149,072 Shares of Packaging Corporation of America (NYSE:PKG)

Boston Trust Walden Corp lowered its stake in Packaging Corporation of America (NYSE:PKG - Free Report) by 73.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,083 shares of the industrial products company's stock after selling 149,072 shares during the period. Boston Trust Walden Corp owned 0.06% of Packaging Corporation of America worth $10,511,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Packaging Corporation of America in the 4th quarter valued at $258,928,000. GAMMA Investing LLC raised its holdings in Packaging Corporation of America by 25,461.0% during the 1st quarter. GAMMA Investing LLC now owns 621,387 shares of the industrial products company's stock worth $123,047,000 after purchasing an additional 618,956 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Packaging Corporation of America by 106.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 848,395 shares of the industrial products company's stock worth $190,999,000 after purchasing an additional 438,012 shares during the last quarter. Select Equity Group L.P. acquired a new position in Packaging Corporation of America during the 4th quarter valued at about $72,339,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Packaging Corporation of America by 642.7% in the 4th quarter. Point72 Asset Management L.P. now owns 271,806 shares of the industrial products company's stock valued at $61,192,000 after purchasing an additional 235,211 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Packaging Corporation of America Trading Up 0.4%

Shares of PKG traded up $0.72 during trading hours on Friday, reaching $186.95. The stock had a trading volume of 1,141,935 shares, compared to its average volume of 741,944. The company has a market cap of $16.82 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.46 and a beta of 0.84. Packaging Corporation of America has a 52 week low of $172.72 and a 52 week high of $250.82. The company has a quick ratio of 2.15, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $189.16 and a 200 day moving average of $206.15.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.10. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, sell-side analysts expect that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 2.67%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Corporation of America's payout ratio is currently 52.30%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PKG shares. Truist Financial increased their price objective on shares of Packaging Corporation of America from $237.00 to $239.00 and gave the company a "buy" rating in a report on Tuesday. UBS Group initiated coverage on shares of Packaging Corporation of America in a report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 target price for the company. Wall Street Zen downgraded Packaging Corporation of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Jefferies Financial Group cut Packaging Corporation of America from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $245.00 to $205.00 in a research note on Monday, June 16th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 target price (down previously from $205.00) on shares of Packaging Corporation of America in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Packaging Corporation of America currently has a consensus rating of "Hold" and an average target price of $211.80.

Packaging Corporation of America 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.