UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Packaging Co. of America (NYSE:PKG - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 419,871 shares of the industrial products company's stock after selling 24,099 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.47% of Packaging Co. of America worth $94,526,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth approximately $44,000. Lazard Asset Management LLC boosted its stake in Packaging Co. of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company's stock worth $45,000 after purchasing an additional 186 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America during the fourth quarter worth $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America during the fourth quarter worth about $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America in the 4th quarter worth approximately $68,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Packaging Co. of America Trading Down 0.7%
Shares of PKG stock traded down $1.41 during trading hours on Wednesday, hitting $192.41. The company had a trading volume of 743,142 shares, compared to its average volume of 718,931. The stock has a market capitalization of $17.31 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a fifty-two week low of $172.72 and a fifty-two week high of $250.82. The company's fifty day moving average is $188.97 and its 200 day moving average is $212.29.
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. Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.12 billion. Research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.
Packaging Co. of America Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 annualized dividend and a yield of 2.60%. Packaging Co. of America's payout ratio is 52.30%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on PKG. Truist Financial reduced their price objective on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company restated an "equal weight" rating and set a $180.00 price objective (down from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Wall Street Zen downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Sunday, April 6th. Finally, Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.60.
View Our Latest Report on PKG
About Packaging Co. of America
(
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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