Stevens Capital Management LP Invests $567,000 in Packaging Co. of America (NYSE:PKG)

Stevens Capital Management LP bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,518 shares of the industrial products company’s stock, valued at approximately $567,000.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its holdings in Packaging Co. of America by 234.7% during the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after buying an additional 115 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $44,000. Golden State Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $48,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the fourth quarter valued at $63,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Packaging Co. of America Trading Down 1.5 %

Shares of Packaging Co. of America stock opened at $194.30 on Monday. The firm has a 50-day moving average of $214.03 and a 200-day moving average of $222.47. The stock has a market cap of $17.45 billion, a PE ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 52-week low of $169.00 and a 52-week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, sell-side analysts forecast that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a yield of 2.57%. Packaging Co. of America’s dividend payout ratio is 55.99%.

Analyst Ratings Changes

PKG has been the topic of several research reports. Wells Fargo & Company decreased their price objective on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Jefferies Financial Group upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating and upped their price objective for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reiterated a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Three equities research 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $233.00.

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.