UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 419,871 shares of the industrial products company's stock after selling 24,099 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.47% of Packaging Co. of America worth $94,526,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PKG. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Lazard Asset Management LLC raised its position in Packaging Co. of America by 1,033.3% in the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 186 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at $48,000. Rialto Wealth Management LLC bought a new position in Packaging Co. of America in the 4th quarter valued at $63,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Co. of America in the 4th quarter valued at $68,000. Institutional investors own 89.78% of the company's stock.
Packaging Co. of America Stock Up 1.6%
PKG traded up $3.03 on Tuesday, hitting $193.73. 543,890 shares of the company were exchanged, compared to its average volume of 718,834. Packaging Co. of America has a 12 month low of $172.72 and a 12 month high of $250.82. The company has a market cap of $17.43 billion, a PE ratio of 21.69, a PEG ratio of 2.41 and a beta of 0.85. 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 stock's fifty day moving average is $189.04 and its 200-day moving average is $212.42.
Packaging Co. of America (NYSE:PKG - Get Free Report) last released 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. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Equities research analysts predict that Packaging Co. of America will post 10.44 EPS for the current fiscal year.
Packaging Co. of America Announces Dividend
The firm 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 $1.25 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.58%. Packaging Co. of America's dividend payout ratio is 52.30%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Packaging Co. of America from a "buy" rating to a "hold" rating in a research 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 note on Friday, May 9th. Truist Financial reduced 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. Finally, Seaport Res Ptn raised Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a research report on Thursday, February 13th. Three investment 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 company's stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of "Moderate Buy" and a consensus target price of $226.60.
Read Our Latest Report on Packaging Co. of America
Packaging Co. of America Company Profile
(
Free Report)
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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