First United Bank & Trust Acquires New Stake in Packaging Co. of America (NYSE:PKG)

First United Bank & Trust acquired a new position in Packaging Co. of America (NYSE:PKG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,457 shares of the industrial products company's stock, valued at approximately $289,000.

Several other institutional investors have also recently modified their holdings of PKG. Centricity Wealth Management LLC purchased a new position in shares of Packaging Co. of America in the fourth quarter worth about $44,000. Lazard Asset Management LLC raised its position in Packaging Co. of America by 1,033.3% during the fourth quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 186 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter valued at approximately $48,000. Rialto Wealth Management LLC purchased a new position in Packaging Co. of America during the fourth quarter valued at approximately $63,000. Finally, Ameriflex Group Inc. purchased a new position in Packaging Co. of America during the fourth quarter valued at approximately $64,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PKG shares. Wells Fargo & Company reiterated an "equal weight" rating and set a $180.00 price target (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. UBS Group initiated coverage on Packaging Co. of America in a research report on Wednesday, June 4th. They set a "neutral" rating and a $200.00 price target for the company. Wall Street Zen cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Finally, Truist Financial cut their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research 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 company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $222.17.

Packaging Co. of America Price Performance

Shares of NYSE:PKG traded down $5.01 during trading on Friday, reaching $188.30. The stock had a trading volume of 524,068 shares, compared to its average volume of 738,626. 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 business has a fifty day moving average price of $189.04 and a 200-day moving average price of $207.65. The stock has a market cap of $16.94 billion, a PE ratio of 21.09, a PEG ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 1-year low of $172.72 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued 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 analyst estimates of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's dividend payout ratio (DPR) is currently 52.30%.

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.