Tower Research Capital LLC TRC Acquires 4,581 Shares of Packaging Co. of America (NYSE:PKG)

Tower Research Capital LLC TRC grew its holdings in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 80.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,310 shares of the industrial products company's stock after purchasing an additional 4,581 shares during the period. Tower Research Capital LLC TRC's holdings in Packaging Co. of America were worth $2,321,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Fortitude Family Office LLC raised its holdings in Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company's stock worth $37,000 after buying an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter valued at approximately $44,000. Golden State Wealth Management LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at approximately $48,000. Rialto Wealth Management LLC acquired a new position in Packaging Co. of America in the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. purchased a new position in Packaging Co. of America during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 89.78% of the company's stock.

Analysts Set New Price Targets

PKG has been the subject of several recent analyst reports. Citigroup raised their target price on 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. Truist Financial lowered their target price on Packaging Co. of America from $265.00 to $238.00 and set a "buy" rating on the stock in a research note on Tuesday, April 22nd. Wells Fargo & Company decreased their price target on shares of Packaging Co. of America from $209.00 to $205.00 and set an "overweight" rating for the company in a report on Thursday. StockNews.com lowered shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a research note 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 research note 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Packaging Co. of America has a consensus rating of "Moderate Buy" and a consensus price target of $231.60.

Packaging Co. of America Stock Up 0.6 %

Packaging Co. of America stock traded up $1.10 during mid-day trading on Monday, hitting $185.92. 196,900 shares of the company's stock were exchanged, compared to its average volume of 696,390. Packaging Co. of America has a 1-year low of $172.37 and a 1-year high of $250.82. The stock has a 50 day moving average of $196.03 and a two-hundred day moving average of $218.15. 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 stock has a market cap of $16.72 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.41 and a beta of 0.84.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.10. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate 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, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $1.25 dividend. The ex-dividend date was Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.69%. Packaging Co. of America's payout ratio is presently 52.30%.

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.