First Foundation Advisors Buys 164 Shares of Packaging Co. of America (NYSE:PKG)

First Foundation Advisors grew its stake in shares of Packaging Co. of America (NYSE:PKG) by 9.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 1,961 shares of the industrial products company’s stock after acquiring an additional 164 shares during the quarter. First Foundation Advisors’ holdings in Packaging Co. of America were worth $372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP lifted its holdings in shares of Packaging Co. of America by 116.7% during the 1st quarter. Twin Tree Management LP now owns 71,880 shares of the industrial products company’s stock valued at $13,641,000 after purchasing an additional 38,714 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Packaging Co. of America by 20.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 107,020 shares of the industrial products company’s stock valued at $20,310,000 after purchasing an additional 18,058 shares in the last quarter. Foundry Partners LLC lifted its holdings in shares of Packaging Co. of America by 46.0% during the 1st quarter. Foundry Partners LLC now owns 60,836 shares of the industrial products company’s stock valued at $11,545,000 after purchasing an additional 19,171 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Packaging Co. of America by 10.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 108,959 shares of the industrial products company’s stock valued at $20,678,000 after purchasing an additional 10,516 shares in the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Packaging Co. of America during the 1st quarter valued at about $844,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.7 %

NYSE PKG traded down $1.35 during trading on Friday, hitting $191.21. The stock had a trading volume of 802,281 shares, compared to its average volume of 563,311. The company has a market capitalization of $17.17 billion, a PE ratio of 23.90, a P/E/G ratio of 5.15 and a beta of 0.77. Packaging Co. of America has a 12 month low of $135.10 and a 12 month high of $194.42. The company’s 50-day moving average price is $183.38 and its two-hundred day moving average price is $178.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. As a group, sell-side analysts forecast that Packaging Co. of America will post 8.43 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PKG shares. BNP Paribas cut Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Citigroup lifted their price objective on Packaging Co. of America from $181.00 to $187.00 and gave the company a “neutral” rating in a report on Monday, July 8th. Bank of America lifted their price objective on Packaging Co. of America from $197.00 to $200.00 and gave the company a “buy” rating in a report on Monday, June 17th. Truist Financial boosted their target price on Packaging Co. of America from $208.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $186.33.

Insiders Place Their Bets

In related news, Director Karen E. Gowland purchased 300 shares of the stock in a transaction on Wednesday, May 15th. The shares were purchased at an average price of $182.06 per share, with a total value of $54,618.00. Following the transaction, the director now directly owns 916 shares of the company’s stock, valued at $166,766.96. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Packaging Co. of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.