Man Group plc Purchases 9,097 Shares of Packaging Co. of America (NYSE:PKG)

Man Group plc boosted its holdings in Packaging Co. of America (NYSE:PKG - Free Report) by 28.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,635 shares of the industrial products company's stock after purchasing an additional 9,097 shares during the period. Man Group plc's holdings in Packaging Co. of America were worth $9,373,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PKG. Vanguard Group Inc. boosted its holdings in shares of Packaging Co. of America by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after buying an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock worth $691,138,000 after acquiring an additional 132,836 shares during the period. Geode Capital Management LLC raised its position in Packaging Co. of America by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company's stock worth $531,540,000 after acquiring an additional 29,427 shares during the period. Invesco Ltd. boosted its stake in Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock valued at $417,187,000 after acquiring an additional 14,775 shares during the last quarter. Finally, Boston Partners boosted its stake in Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock valued at $352,305,000 after acquiring an additional 101,755 shares during the last quarter. Institutional investors own 89.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts 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. Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 target price (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $226.60.

Packaging Co. of America Stock Performance

PKG traded up $1.69 on Thursday, hitting $192.48. The company's stock had a trading volume of 783,615 shares, compared to its average volume of 717,178. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The firm has a market cap of $17.32 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The company's 50 day simple moving average is $189.45 and its 200-day simple moving average is $213.70.

Packaging Co. of America (NYSE:PKG - Get Free Report) last posted its 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. 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%. Analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, June 13th. Packaging Co. of America's payout ratio is presently 52.30%.

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.