Asset Management One Co. Ltd. Has $8.44 Million Holdings in Packaging Co. of America (NYSE:PKG)

Asset Management One Co. Ltd. raised its holdings in Packaging Co. of America (NYSE:PKG) by 4.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,190 shares of the industrial products company’s stock after buying an additional 1,613 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Packaging Co. of America were worth $8,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKG. Boston Partners boosted its stake in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after buying an additional 477,487 shares in the last quarter. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% during the second quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after acquiring an additional 262,315 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Packaging Co. of America by 164.3% during the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after acquiring an additional 249,483 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Packaging Co. of America by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock worth $210,636,000 after acquiring an additional 86,005 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Wall Street Analysts Forecast Growth

PKG has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on 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 lifted their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Truist Financial reaffirmed a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $221.60.

Packaging Co. of America Stock Down 0.9 %

PKG stock opened at $239.48 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The stock has a market capitalization of $21.51 billion, a P/E ratio of 27.91, a P/E/G ratio of 3.26 and a beta of 0.76. The business has a 50-day moving average of $217.31 and a 200-day moving average of $197.25. Packaging Co. of America has a fifty-two week low of $148.50 and a fifty-two week high of $245.00.

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

Packaging Co. of America Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were given a dividend of $1.25 per share. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. Packaging Co. of America’s dividend payout ratio is currently 58.28%.

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.