PDT Partners LLC Acquires Shares of 8,300 Packaging Co. of America (NYSE:PKG)

PDT Partners LLC purchased a new stake in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,300 shares of the industrial products company's stock, valued at approximately $1,869,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% in the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock valued at $37,000 after purchasing an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Golden State Wealth Management LLC bought 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 in the 4th quarter worth about $63,000. Finally, Intact Investment Management Inc. bought a new position in Packaging Co. of America in the 4th quarter valued at approximately $68,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PKG. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Wells Fargo & Company cut their target price on Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Seaport Res Ptn upgraded Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Truist Financial cut their price target on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Finally, Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a "neutral" rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of "Moderate Buy" and an average price target of $231.60.

Packaging Co. of America Stock Up 2.2 %

Shares of NYSE PKG traded up $3.96 during midday trading on Friday, hitting $187.33. 551,309 shares of the stock traded hands, compared to its average volume of 700,721. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $172.72 and a one year high of $250.82. The business has a 50 day moving average price of $193.56 and a two-hundred day moving average price of $216.98. The company has a market cap of $16.85 billion, a PE ratio of 20.98, a P/E/G ratio of 2.41 and a beta of 0.85.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share 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 net margin of 9.60% and a return on equity of 19.67%. On average, equities analysts predict that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 52.30%.

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.