Quantinno Capital Management LP Buys 16,912 Shares of Packaging Co. of America (NYSE:PKG)

Quantinno Capital Management LP increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 63.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,699 shares of the industrial products company’s stock after acquiring an additional 16,912 shares during the period. Quantinno Capital Management LP’s holdings in Packaging Co. of America were worth $9,838,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of PKG. Centricity Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $44,000. Lazard Asset Management LLC lifted its position in shares of Packaging Co. of America by 1,033.3% during the 4th quarter. Lazard Asset Management LLC now owns 204 shares of the industrial products company’s stock worth $45,000 after buying an additional 186 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $48,000. Rialto Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $63,000. Finally, Intact Investment Management Inc. bought a new position in shares of Packaging Co. of America during the 4th quarter worth approximately $68,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 1.6%

PKG stock opened at $191.82 on Thursday. The company has a market cap of $17.26 billion, a P/E ratio of 21.48, a PEG ratio of 2.41 and a beta of 0.85. Packaging Co. of America has a twelve month low of $172.72 and a twelve month high of $250.82. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average of $189.82 and a 200-day moving average of $214.92.

Packaging Co. of America (NYSE:PKG) last released its earnings results on Tuesday, April 22nd. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.10. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.12 billion. Packaging Co. of America had a return on equity of 19.67% and a net margin of 9.60%. As a group, equities research analysts expect that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, June 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.61%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 52.30%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on PKG shares. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Sunday, April 6th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Truist Financial cut their price objective on Packaging Co. of America from $265.00 to $238.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $180.00 price objective (down previously from $205.00) on shares of Packaging Co. of America in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.60.

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.