Nordea Investment Management AB boosted its stake in Packaging Corp Of America (NYSE:PKG) by 0.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,247 shares of the industrial products company’s stock after buying an additional 147 shares during the period. Nordea Investment Management AB’s holdings in Packaging Corp Of America were worth $3,105,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in PKG. CSat Investment Advisory L.P. boosted its position in shares of Packaging Corp Of America by 73.8% during the 4th quarter. CSat Investment Advisory L.P. now owns 299 shares of the industrial products company’s stock valued at $25,000 after purchasing an additional 127 shares in the last quarter. Citizens Financial Group Inc RI bought a new position in shares of Packaging Corp Of America during the 1st quarter valued at about $32,000. Aspire Private Capital LLC bought a new position in shares of Packaging Corp Of America during the 4th quarter valued at about $41,000. Horan Capital Advisors LLC. purchased a new stake in Packaging Corp Of America during the first quarter valued at about $41,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Packaging Corp Of America during the first quarter valued at about $52,000. Hedge funds and other institutional investors own 88.85% of the company’s stock.
Several brokerages recently weighed in on PKG. Bank of America lowered shares of Propetro from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 16th. Zacks Investment Research upgraded Green Brick Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th. ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Stephens set a $100.00 target price on Cullen/Frost Bankers and gave the stock a “hold” rating in a research report on Friday, April 26th. Finally, KeyCorp raised their target price on SBA Communications from $215.00 to $252.00 and gave the stock an “overweight” rating in a research report on Monday. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $100.09.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.02. Packaging Corp Of America had a return on equity of 30.86% and a net margin of 11.12%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter in the prior year, the business posted $1.55 EPS. The business’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts expect that Packaging Corp Of America will post 8.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a dividend of $0.79 per share. The ex-dividend date was Thursday, June 13th. This represents a $3.16 annualized dividend and a yield of 3.21%. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.
About Packaging Corp Of America
Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.
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