Nisa Investment Advisors LLC Has $3.15 Million Position in Packaging Co. of America (NYSE:PKG)

Nisa Investment Advisors LLC cut its holdings in Packaging Co. of America (NYSE:PKG) by 9.7% in the third quarter, Holdings Channel.com reports. The fund owned 14,548 shares of the industrial products company’s stock after selling 1,565 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Packaging Co. of America were worth $3,151,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PKG. GHP Investment Advisors Inc. boosted its holdings in Packaging Co. of America by 1.0% in the third quarter. GHP Investment Advisors Inc. now owns 55,953 shares of the industrial products company’s stock worth $12,052,000 after purchasing an additional 548 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Packaging Co. of America by 4.5% in the third quarter. Forsta AP Fonden now owns 18,700 shares of the industrial products company’s stock worth $4,028,000 after buying an additional 800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Packaging Co. of America by 6.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,331 shares of the industrial products company’s stock worth $15,386,000 after acquiring an additional 4,292 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Packaging Co. of America by 65.1% during the 3rd quarter. Allworth Financial LP now owns 312 shares of the industrial products company’s stock valued at $67,000 after acquiring an additional 123 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC bought a new position in shares of Packaging Co. of America in the 3rd quarter valued at approximately $202,000. 89.78% of the stock is owned by institutional investors.

Packaging Co. of America Trading Up 0.5 %

Shares of Packaging Co. of America stock opened at $229.99 on Friday. Packaging Co. of America has a 12-month low of $148.50 and a 12-month high of $232.98. The stock has a market capitalization of $20.66 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 3.24 and a beta of 0.77. The company has a 50-day simple moving average of $214.85 and a 200 day simple moving average of $195.67. The company has a quick ratio of 1.71, a current ratio of 2.43 and a debt-to-equity ratio of 0.60.

Packaging Co. of America (NYSE:PKG) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.35%. Packaging Co. of America’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.05 earnings per share. Research analysts expect that Packaging Co. of America will post 9 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, September 16th. Packaging Co. of America’s payout ratio is presently 58.28%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citigroup increased their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Truist Financial reissued 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, October 24th. Finally, StockNews.com lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.