Select Equity Group L.P. Acquires New Holdings in Packaging Co. of America (NYSE:PKG)

Select Equity Group L.P. purchased a new position in Packaging Co. of America (NYSE:PKG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 321,320 shares of the industrial products company's stock, valued at approximately $72,339,000. Select Equity Group L.P. owned approximately 0.36% of Packaging Co. of America at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PKG. Vanguard Group Inc. lifted its stake in Packaging Co. of America by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company's stock worth $2,571,821,000 after acquiring an additional 133,575 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Packaging Co. of America by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company's stock valued at $691,138,000 after buying an additional 132,836 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of 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 purchasing an additional 29,427 shares during the period. Invesco Ltd. boosted its position in shares of Packaging Co. of America by 0.8% during the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company's stock worth $417,187,000 after acquiring an additional 14,775 shares during the last quarter. Finally, Boston Partners boosted its position in shares of Packaging Co. of America by 7.0% during the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company's stock worth $352,305,000 after acquiring an additional 101,755 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 0.5%

NYSE:PKG traded down $0.97 during mid-day trading on Tuesday, hitting $193.47. The stock had a trading volume of 512,969 shares, compared to its average volume of 716,916. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. 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 capitalization of $17.41 billion, a PE ratio of 21.67, a PEG ratio of 2.41 and a beta of 0.85. The stock has a 50-day simple moving average of $189.53 and a two-hundred day simple moving average of $214.00.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 EPS for the quarter, beating 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 business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $2.12 billion. On average, equities research analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued 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 payout ratio is 52.30%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PKG. Truist Financial dropped their target price on shares of 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. Wells Fargo & Company reissued an "equal weight" rating and issued a $180.00 price target (down previously from $205.00) on shares of Packaging Co. of America in a report on Friday, May 9th. StockNews.com lowered 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 raised shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $226.60.

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.