Bangor Savings Bank Has $1 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Bangor Savings Bank raised its position in shares of Packaging Co. of America (NYSE:PKG) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,284 shares of the industrial products company’s stock after purchasing an additional 133 shares during the period. Bangor Savings Bank’s holdings in Packaging Co. of America were worth $1,003,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new stake in Packaging Co. of America in the fourth quarter valued at about $880,000. International Assets Investment Management LLC increased its position in Packaging Co. of America by 19,323.7% during the 4th quarter. International Assets Investment Management LLC now owns 30,301 shares of the industrial products company’s stock worth $4,936,000 after purchasing an additional 30,145 shares in the last quarter. Cim LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $2,003,000. AXS Investments LLC acquired a new position in Packaging Co. of America during the 4th quarter worth approximately $766,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Packaging Co. of America during the 4th quarter valued at $16,338,000. 89.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on PKG. BNP Paribas downgraded Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price objective on the stock. in a report on Friday, April 12th. Citigroup cut their target price on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Truist Financial boosted their target price on shares of Packaging Co. of America from $191.00 to $208.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. Wells Fargo & Company raised shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $187.00 to $191.00 in a research note on Wednesday, April 24th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $176.29.

Packaging Co. of America Trading Down 1.1 %

NYSE:PKG opened at $183.33 on Monday. Packaging Co. of America has a 52 week low of $127.69 and a 52 week high of $191.27. The firm’s fifty day moving average is $180.46 and its 200-day moving average is $175.74. The firm has a market cap of $16.46 billion, a P/E ratio of 22.92, a P/E/G ratio of 5.02 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.74 and a current ratio of 2.46.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. The firm had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. Packaging Co. of America had a return on equity of 18.80% and a net margin of 9.25%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. Equities analysts expect that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, June 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 62.50%.

Insiders Place Their Bets

In related news, Director Karen E. Gowland acquired 300 shares of the stock in a transaction dated Wednesday, May 15th. The stock was bought at an average price of $182.06 per share, for a total transaction of $54,618.00. Following the purchase, the director now directly owns 916 shares of the company’s stock, valued at approximately $166,766.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.60% of the company’s stock.

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.