KLP Kapitalforvaltning AS Makes New Investment in Packaging Co. of America (NYSE:PKG)

KLP Kapitalforvaltning AS purchased a new stake in Packaging Co. of America (NYSE:PKG) in the 4th quarter, Holdings Channel reports. The firm purchased 41,330 shares of the industrial products company’s stock, valued at approximately $9,349,000.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC grew its stake in Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Packaging Co. of America by 150.8% during the 4th quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 98 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Packaging Co. of America in the 4th quarter valued at approximately $44,000. Golden State Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth approximately $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America during the 4th quarter worth approximately $63,000. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 3.2 %

Shares of NYSE:PKG opened at $200.54 on Tuesday. The stock has a market capitalization of $18.01 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company’s 50-day moving average price is $213.43 and its two-hundred day moving average price is $222.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. Packaging Co. of America has a one year low of $169.00 and a one year 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 earnings per share (EPS) 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%. On average, equities analysts forecast that Packaging Co. of America will post 10.44 EPS for the current fiscal year.

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.49%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PKG shares. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company lowered their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a report on Thursday, January 30th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and boosted their price target for the company from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, StockNews.com cut Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Three investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.