International Assets Investment Management LLC Increases Stock Holdings in Packaging Co. of America (NYSE:PKG)

International Assets Investment Management LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 41,151.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,519 shares of the industrial products company’s stock after purchasing an additional 155,142 shares during the quarter. International Assets Investment Management LLC owned approximately 0.17% of Packaging Co. of America worth $33,499,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC bought a new position in Packaging Co. of America in the first quarter worth approximately $377,000. Wealth Enhancement Advisory Services LLC raised its holdings in Packaging Co. of America by 5.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,217 shares of the industrial products company’s stock worth $5,165,000 after purchasing an additional 1,421 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Packaging Co. of America by 446.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 73,398 shares of the industrial products company’s stock valued at $13,929,000 after purchasing an additional 59,967 shares in the last quarter. Norden Group LLC bought a new stake in Packaging Co. of America during the first quarter valued at about $530,000. Finally, First Trust Direct Indexing L.P. increased its position in Packaging Co. of America by 14.3% in the first quarter. First Trust Direct Indexing L.P. now owns 2,576 shares of the industrial products company’s stock worth $489,000 after buying an additional 323 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PKG shares. StockNews.com upgraded Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

Packaging Co. of America Price Performance

PKG stock opened at $227.45 on Tuesday. The company has a market capitalization of $20.43 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 3.20 and a beta of 0.77. The company’s fifty day moving average price is $212.65 and its 200-day moving average price is $194.54. Packaging Co. of America has a one year low of $148.50 and a one year high of $231.30. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.71 and a current ratio of 2.43.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. On average, equities analysts anticipate that Packaging Co. of America will post 9 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.20%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio is presently 58.28%.

Packaging Co. of America 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.