Hennion & Walsh Asset Management Inc. Increases Holdings in Packaging Co. of America (NYSE:PKG)

Hennion & Walsh Asset Management Inc. increased its position in Packaging Co. of America (NYSE:PKG) by 8.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,349 shares of the industrial products company’s stock after acquiring an additional 1,212 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Packaging Co. of America were worth $3,522,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in Packaging Co. of America by 1.5% in the second quarter. Victory Capital Management Inc. now owns 2,853,417 shares of the industrial products company’s stock valued at $520,920,000 after purchasing an additional 41,903 shares during the last quarter. Boston Partners increased its holdings in 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 valued at $274,421,000 after acquiring an additional 477,487 shares in the last quarter. Dimensional Fund Advisors LP raised its position in 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 worth $210,636,000 after acquiring an additional 86,005 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Packaging Co. of America by 34.3% in the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after purchasing an additional 262,315 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Packaging Co. of America by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 869,341 shares of the industrial products company’s stock valued at $164,985,000 after purchasing an additional 42,465 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on PKG shares. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial restated a “buy” rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a report on Thursday. Finally, Citigroup lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $221.60.

Packaging Co. of America Stock Down 0.5 %

Shares of NYSE:PKG opened at $227.51 on Friday. Packaging Co. of America has a 12-month low of $147.25 and a 12-month high of $231.30. The stock’s 50-day moving average price is $211.45 and its two-hundred day moving average price is $193.93. The company has a current ratio of 2.43, a quick ratio of 1.71 and a debt-to-equity ratio of 0.60. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.24 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, research analysts forecast that Packaging Co. of America will post 8.77 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.20%. Packaging Co. of America’s dividend payout ratio (DPR) is 58.28%.

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.