Los Angeles Capital Management LLC Acquires 24,764 Shares of Packaging Co. of America (NYSE:PKG)

Los Angeles Capital Management LLC grew its holdings in shares of Packaging Co. of America (NYSE:PKG) by 80.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 55,419 shares of the industrial products company’s stock after acquiring an additional 24,764 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of Packaging Co. of America worth $10,517,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new position in Packaging Co. of America during the fourth quarter worth $28,000. First Horizon Advisors Inc. increased its stake in Packaging Co. of America by 60.5% in the fourth quarter. First Horizon Advisors Inc. now owns 183 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 69 shares in the last quarter. Gables Capital Management Inc. acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at about $31,000. Anchor Investment Management LLC acquired a new position in shares of Packaging Co. of America during the fourth quarter valued at about $37,000. Finally, Fortis Group Advisors LLC acquired a new position in shares of Packaging Co. of America during the third quarter valued at about $46,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

NYSE PKG opened at $185.88 on Thursday. The company’s 50 day moving average is $180.46 and its 200-day moving average is $175.42. The company has a quick ratio of 1.74, a current ratio of 2.46 and a debt-to-equity ratio of 0.62. The firm has a market cap of $16.69 billion, a P/E ratio of 23.24, a price-to-earnings-growth ratio of 5.03 and a beta of 0.78. Packaging Co. of America has a 12-month low of $127.69 and a 12-month high of $191.27.

Packaging Co. of America (NYSE:PKG) last posted its 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 business had revenue of $1.98 billion for 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%. Packaging Co. of America’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.20 EPS. Sell-side analysts predict that Packaging Co. of America will post 8.33 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.00 dividend on an annualized basis and a yield of 2.69%. Packaging Co. of America’s dividend payout ratio is presently 62.50%.

Insiders Place Their Bets

In related news, Director Karen E. Gowland purchased 300 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was acquired at an average price of $182.06 per share, with a total value of $54,618.00. Following the purchase, the director now directly owns 916 shares in the company, valued at $166,766.96. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

PKG has been the subject of a number of analyst reports. Citigroup reduced their price objective on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company upgraded shares of Packaging Co. of America from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $191.00 in a report on Wednesday, April 24th. Truist Financial boosted their price target 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. Finally, BNP Paribas cut shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.29.

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.