MQS Management LLC Makes New $222,000 Investment in Packaging Co. of America (NYSE:PKG)

MQS Management LLC bought a new position in shares of Packaging Co. of America (NYSE:PKG) during the 4th quarter, Holdings Channel reports. The fund bought 988 shares of the industrial products company’s stock, valued at approximately $222,000. Packaging Co. of America accounts for approximately 6.3% of MQS Management LLC’s portfolio, making the stock its 8th largest holding.

Other institutional investors also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its position in shares of Packaging Co. of America by 17.0% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock worth $4,366,000 after buying an additional 2,946 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $6,966,000. Jackson Creek Investment Advisors LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $293,000. GAMMA Investing LLC boosted its position in shares of Packaging Co. of America by 24.2% in the 4th quarter. GAMMA Investing LLC now owns 2,431 shares of the industrial products company’s stock worth $547,000 after buying an additional 473 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Packaging Co. of America by 8.4% in the 3rd quarter. Principal Financial Group Inc. now owns 460,518 shares of the industrial products company’s stock worth $99,194,000 after buying an additional 35,614 shares in the last quarter. 89.78% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Packaging Co. of America stock opened at $206.82 on Monday. The stock has a market cap of $18.57 billion, a P/E ratio of 23.16, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a 50 day moving average of $219.91 and a 200-day moving average of $223.09. Packaging Co. of America has a 52 week low of $169.00 and a 52 week high of $250.82.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 EPS for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a net margin of 9.60% and a return on equity of 19.67%. On average, analysts expect that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is currently 55.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial reissued a “buy” rating and issued a $265.00 target price (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Citigroup boosted their target price on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. Finally, StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Profile

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.