Fiduciary Family Office LLC bought a new stake in shares of Packaging Co. of America (NYSE:PKG – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,296 shares of the industrial products company’s stock, valued at approximately $246,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of PKG. FIL Ltd boosted its position in shares of Packaging Co. of America by 2.6% during the 4th quarter. FIL Ltd now owns 2,210,000 shares of the industrial products company’s stock valued at $360,031,000 after acquiring an additional 55,000 shares during the last quarter. Northern Trust Corp lifted its position in Packaging Co. of America by 2.4% during the fourth quarter. Northern Trust Corp now owns 1,182,797 shares of the industrial products company’s stock valued at $192,689,000 after purchasing an additional 27,974 shares during the last quarter. Norges Bank purchased a new position in shares of Packaging Co. of America in the 4th quarter worth $163,314,000. Boston Partners increased its holdings in shares of Packaging Co. of America by 20.1% in the 4th quarter. Boston Partners now owns 968,816 shares of the industrial products company’s stock worth $157,836,000 after buying an additional 162,420 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Packaging Co. of America by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 874,497 shares of the industrial products company’s stock worth $165,962,000 after buying an additional 5,842 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, Director Karen E. Gowland acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average cost of $182.06 per share, for a total transaction of $54,618.00. Following the completion of the acquisition, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Research Report on Packaging Co. of America
Packaging Co. of America Trading Up 0.2 %
PKG stock traded up $0.32 during midday trading on Monday, reaching $185.76. The company’s stock had a trading volume of 299,663 shares, compared to its average volume of 624,186. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 5.02 and a beta of 0.77. Packaging Co. of America has a 1 year low of $132.70 and a 1 year high of $191.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46. The stock has a fifty day simple moving average of $182.20 and a two-hundred day simple moving average of $177.60.
Packaging Co. of America (NYSE:PKG – Get Free Report) last announced its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $1.91 billion. Packaging Co. of America had a net margin of 9.25% and a return on equity of 18.80%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $2.20 EPS. On average, equities research analysts predict that Packaging Co. of America will post 8.33 EPS for the current year.
Packaging Co. of America Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 annualized dividend and a yield of 2.69%. Packaging Co. of America’s dividend payout ratio (DPR) is currently 62.50%.
About Packaging Co. of America
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.
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