Mount Lucas Management LP Buys New Stake in Packaging Corporation of America (NYSE:PKG)

Mount Lucas Management LP bought a new stake in Packaging Corporation of America (NYSE:PKG - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 7,080 shares of the industrial products company's stock, valued at approximately $1,402,000.

Several other large investors have also recently made changes to their positions in the company. Roundview Capital LLC grew its holdings in shares of Packaging Corporation of America by 25.1% in the first quarter. Roundview Capital LLC now owns 1,606 shares of the industrial products company's stock valued at $318,000 after purchasing an additional 322 shares during the period. SYM FINANCIAL Corp raised its holdings in Packaging Corporation of America by 8.7% in the first quarter. SYM FINANCIAL Corp now owns 1,527 shares of the industrial products company's stock valued at $302,000 after acquiring an additional 122 shares in the last quarter. Oak Thistle LLC acquired a new stake in Packaging Corporation of America in the first quarter valued at approximately $1,203,000. KLP Kapitalforvaltning AS increased its stake in Packaging Corporation of America by 8.0% in the first quarter. KLP Kapitalforvaltning AS now owns 44,630 shares of the industrial products company's stock valued at $8,882,000 after purchasing an additional 3,300 shares during the last quarter. Finally, VCI Wealth Management LLC purchased a new position in Packaging Corporation of America in the first quarter valued at approximately $846,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Corporation of America Trading Up 2.0%

NYSE:PKG opened at $205.39 on Wednesday. Packaging Corporation of America has a 1 year low of $172.72 and a 1 year high of $250.82. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 21.48, a PEG ratio of 2.66 and a beta of 0.82. The business has a fifty day moving average of $195.07 and a 200-day moving average of $200.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.15 and a current ratio of 3.28.

Packaging Corporation 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 for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.12 billion. Packaging Corporation of America had a return on equity of 20.08% and a net margin of 10.09%. Equities analysts predict that Packaging Corporation of America will post 10.44 earnings per share for the current year.

Packaging Corporation of America Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were paid a $1.25 dividend. The ex-dividend date was Friday, June 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. Packaging Corporation of America's payout ratio is 52.30%.

Analyst Ratings Changes

PKG has been the topic of a number of analyst reports. Truist Financial lifted 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 research report on Tuesday, June 17th. 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 downgraded shares of Packaging Corporation of America from a "buy" rating to a "hold" rating and cut their target price for the company from $245.00 to $205.00 in a research note on Monday, June 16th. Wells Fargo & Company boosted their target price on shares of Packaging Corporation of America from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Finally, UBS Group boosted their target price on shares of Packaging Corporation of America from $200.00 to $210.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Five analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Packaging Corporation of America currently has a consensus rating of "Hold" and a consensus price target of $217.80.

Packaging Corporation 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.

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