Cambiar Investors LLC Sells 3,118 Shares of Packaging Co. of America (NYSE:PKG)

Cambiar Investors LLC lowered its stake in shares of Packaging Co. of America (NYSE:PKG) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 63,363 shares of the industrial products company’s stock after selling 3,118 shares during the quarter. Cambiar Investors LLC’s holdings in Packaging Co. of America were worth $13,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Partners lifted its stake in shares of Packaging Co. of America by 49.3% during the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after acquiring an additional 477,487 shares during the last quarter. Millennium Management LLC grew its stake in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after acquiring an additional 262,315 shares in the last quarter. AQR Capital Management LLC grew its stake in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after acquiring an additional 249,483 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after acquiring an additional 86,005 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

PKG opened at $229.99 on Friday. The firm has a market capitalization of $20.66 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 3.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The business’s 50-day moving average is $214.85 and its two-hundred day moving average is $195.67. Packaging Co. of America has a 1 year low of $148.50 and a 1 year high of $232.98.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.05 EPS. Research analysts anticipate that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company raised their price target on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial restated a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Finally, Citigroup increased their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Packaging Co. of America currently has an average rating of “Hold” and an average price target of $221.60.

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.