First Commonwealth Financial Corp PA Invests $200,000 in Packaging Co. of America (NYSE:PKG)

First Commonwealth Financial Corp PA acquired a new stake in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 889 shares of the industrial products company’s stock, valued at approximately $200,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Packaging Co. of America by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 11,423,715 shares of the industrial products company’s stock valued at $2,571,821,000 after buying an additional 133,575 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Packaging Co. of America by 4.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,069,949 shares of the industrial products company’s stock worth $691,138,000 after acquiring an additional 132,836 shares during the period. Geode Capital Management LLC increased its position in Packaging Co. of America by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,366,723 shares of the industrial products company’s stock valued at $531,540,000 after acquiring an additional 29,427 shares during the last quarter. Invesco Ltd. lifted its holdings in Packaging Co. of America by 0.8% in the fourth quarter. Invesco Ltd. now owns 1,853,092 shares of the industrial products company’s stock valued at $417,187,000 after acquiring an additional 14,775 shares during the period. Finally, Boston Partners boosted its position in Packaging Co. of America by 7.0% in the fourth quarter. Boston Partners now owns 1,565,351 shares of the industrial products company’s stock worth $352,305,000 after purchasing an additional 101,755 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Up 0.2 %

PKG opened at $187.07 on Friday. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 2.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm’s fifty day moving average is $198.99 and its 200 day moving average is $219.29. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Wall Street Analyst Weigh In

PKG has been the topic of several recent research reports. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Citigroup increased their price target on shares of 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. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Wells Fargo & Company lowered their target price on Packaging Co. of America from $236.00 to $209.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.80.

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.