Richwood Investment Advisors LLC Trims Holdings in Packaging Co. of America (NYSE:PKG)

Richwood Investment Advisors LLC cut its holdings in Packaging Co. of America (NYSE:PKG) by 10.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 897 shares of the industrial products company’s stock after selling 105 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Packaging Co. of America were worth $202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KLP Kapitalforvaltning AS purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $9,349,000. Mizuho Securities USA LLC grew its position in shares of Packaging Co. of America by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 8,451 shares of the industrial products company’s stock worth $1,903,000 after buying an additional 2,669 shares during the period. Virtu Financial LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $779,000. Quantbot Technologies LP purchased a new stake in shares of Packaging Co. of America in the 4th quarter worth about $5,084,000. Finally, Adams Natural Resources Fund Inc. grew its position in shares of Packaging Co. of America by 25.4% in the 4th quarter. Adams Natural Resources Fund Inc. now owns 7,400 shares of the industrial products company’s stock worth $1,666,000 after buying an additional 1,500 shares during the period. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Stock Performance

Shares of NYSE PKG opened at $194.30 on Friday. The firm’s 50-day moving average price is $214.03 and its 200-day moving average price is $222.35. 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 company has a market cap of $17.45 billion, a PE ratio of 21.76, a PEG ratio of 2.41 and a beta of 0.77. 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 announced its quarterly earnings results on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analysts Forecast Growth

PKG has been the topic of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $265.00 price objective (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. StockNews.com downgraded shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the company from $215.00 to $280.00 in a research report on Wednesday, December 18th. Citigroup increased 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. Finally, Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 13th. Three research 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 company. According to MarketBeat.com, the stock has an average 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.