Dumont & Blake Investment Advisors LLC Makes New Investment in Packaging Co. of America (NYSE:PKG)

Dumont & Blake Investment Advisors LLC acquired a new position in shares of Packaging Co. of America (NYSE:PKG) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 936 shares of the industrial products company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Partners boosted its holdings in Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after buying an additional 477,487 shares in the last quarter. Millennium Management LLC boosted its holdings in 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 buying an additional 262,315 shares in the last quarter. AQR Capital Management LLC boosted its holdings in 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 buying an additional 249,483 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in 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 buying an additional 155,142 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in 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 buying an additional 86,005 shares in the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

NYSE:PKG opened at $225.86 on Friday. The firm has a 50 day simple moving average of $212.04 and a 200-day simple moving average of $194.18. 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 firm has a market cap of $20.28 billion, a PE ratio of 28.23, a P/E/G ratio of 4.24 and a beta of 0.77. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $231.30.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. The firm had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the business posted $2.05 earnings per share. Packaging Co. of America’s revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts expect that Packaging Co. of America will post 8.77 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, October 15th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s dividend payout ratio (DPR) is 62.50%.

Wall Street Analyst Weigh In

PKG has been the topic of a number of research analyst reports. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their target price 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. Finally, Truist Financial restated a “buy” rating and set a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.60.

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.