Sciencast Management LP Makes New Investment in Packaging Co. of America (NYSE:PKG)

Sciencast Management LP acquired a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 12,674 shares of the industrial products company’s stock, valued at approximately $2,853,000.

Several other hedge funds also recently modified their holdings of the stock. Summit Global Investments bought a new position in Packaging Co. of America in the fourth quarter valued at approximately $2,715,000. TD Private Client Wealth LLC boosted its holdings in shares of Packaging Co. of America by 27.9% in the 4th quarter. TD Private Client Wealth LLC now owns 1,049 shares of the industrial products company’s stock valued at $236,000 after buying an additional 229 shares during the last quarter. Magnetar Financial LLC grew its stake in shares of Packaging Co. of America by 960.1% in the fourth quarter. Magnetar Financial LLC now owns 25,071 shares of the industrial products company’s stock valued at $5,644,000 after buying an additional 22,706 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Packaging Co. of America by 61.0% during the fourth quarter. Teacher Retirement System of Texas now owns 137,148 shares of the industrial products company’s stock worth $30,876,000 after buying an additional 51,962 shares during the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Packaging Co. of America by 24.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 29,673 shares of the industrial products company’s stock worth $6,680,000 after acquiring an additional 5,823 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Price Performance

Shares of NYSE PKG opened at $194.30 on Friday. The firm has a market cap of $17.45 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The business’s 50 day moving average is $214.03 and its 200-day moving average is $222.24. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate of $2.51 by ($0.04). Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. Equities research analysts predict that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a dividend of $1.25 per share. The ex-dividend date is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.57%. Packaging Co. of America’s payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their price target on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a research report on Thursday, January 30th. StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial reissued a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.00.

About Packaging Co. of America

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.