Sterling Capital Management LLC Purchases 1,874 Shares of Packaging Co. of America (NYSE:PKG)

Sterling Capital Management LLC grew its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 54.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,314 shares of the industrial products company's stock after purchasing an additional 1,874 shares during the period. Sterling Capital Management LLC's holdings in Packaging Co. of America were worth $1,196,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Packaging Co. of America by 30.0% during the third quarter. Wellington Management Group LLP now owns 12,070 shares of the industrial products company's stock worth $2,600,000 after acquiring an additional 2,786 shares in the last quarter. Passumpsic Savings Bank bought a new stake in Packaging Co. of America in the third quarter worth $212,000. Aldebaran Financial Inc. purchased a new stake in Packaging Co. of America during the third quarter valued at about $215,000. Wilmington Savings Fund Society FSB bought a new position in shares of Packaging Co. of America during the third quarter valued at about $836,000. Finally, Franklin Resources Inc. lifted its stake in shares of Packaging Co. of America by 4.3% in the 3rd quarter. Franklin Resources Inc. now owns 130,628 shares of the industrial products company's stock valued at $28,736,000 after acquiring an additional 5,339 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Packaging Co. of America Stock Down 2.4 %

Shares of NYSE PKG traded down $4.53 during trading on Monday, reaching $182.67. The company had a trading volume of 112,684 shares, compared to its average volume of 689,334. The business's 50-day moving average is $198.57 and its 200 day moving average is $219.18. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The stock has a market cap of $16.43 billion, a PE ratio of 20.48, a P/E/G ratio of 2.41 and a beta of 0.84. Packaging Co. of America has a 12-month low of $169.00 and a 12-month high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities analysts forecast that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, March 14th. Packaging Co. of America's dividend payout ratio is currently 55.99%.

Analyst Ratings Changes

Several equities analysts have recently commented on PKG shares. Truist Financial reaffirmed a "buy" rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a "hold" rating to a "strong-buy" rating in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $236.00 to $209.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a "neutral" rating in a report on Monday, January 6th. Finally, StockNews.com cut Packaging Co. of America from a "buy" rating to a "hold" rating in a research note on Sunday, April 6th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $237.80.

Packaging Co. of America 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.