Packaging Co. of America (NYSE:PKG) Reaches New 52-Week Low - Here's What Happened

Packaging Co. of America (NYSE:PKG - Get Free Report)'s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $180.46 and last traded at $185.75, with a volume of 715084 shares changing hands. The stock had previously closed at $185.98.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PKG. Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. StockNews.com downgraded shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Sunday, April 6th. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, January 6th. Wells Fargo & Company decreased their target price on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. 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. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $231.60.

Packaging Co. of America Trading Up 2.2 %

The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The company has a market cap of $16.85 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.41 and a beta of 0.85. The firm has a 50-day moving average price of $193.56 and a 200 day moving average price of $216.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio (DPR) is 52.30%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortitude Family Office LLC raised its holdings in shares of Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after buying an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Packaging Co. of America in the 4th quarter valued at approximately $44,000. Alpine Bank Wealth Management bought a new stake in Packaging Co. of America during the 1st quarter valued at $39,000. Lazard Asset Management LLC boosted its position 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 acquiring an additional 186 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America in the fourth quarter worth $48,000. 89.78% of the stock is owned by institutional investors and hedge funds.

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.