Packaging Co. of America (NYSE:PKG) to Issue $1.25 Quarterly Dividend

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Tuesday, August 27th, RTT News reports. Investors of record on Tuesday, October 15th will be given a dividend of 1.25 per share by the industrial products company on Monday, September 16th. This represents a $5.00 annualized dividend and a yield of 2.44%.

Packaging Co. of America has raised its dividend by an average of 14.1% per year over the last three years and has raised its dividend every year for the last 14 years. Packaging Co. of America has a payout ratio of 46.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Packaging Co. of America to earn $10.35 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 48.3%.

Packaging Co. of America Trading Up 0.2 %

NYSE PKG traded up $0.51 during mid-day trading on Tuesday, hitting $204.91. The company’s stock had a trading volume of 453,678 shares, compared to its average volume of 617,577. Packaging Co. of America has a 52-week low of $143.82 and a 52-week high of $206.74. The stock’s fifty day simple moving average is $190.71 and its two-hundred day simple moving average is $184.16. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.43 and a quick ratio of 1.71. The firm has a market capitalization of $18.40 billion, a P/E ratio of 25.61, a price-to-earnings-growth ratio of 5.08 and a beta of 0.77.

Packaging Co. of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The firm had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.02 billion. Packaging Co. of America had a net margin of 9.06% and a return on equity of 18.21%. Packaging Co. of America’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.31 earnings per share. Research analysts expect that Packaging Co. of America will post 8.71 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Packaging Co. of America from $197.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Citigroup lifted their price target on shares of Packaging Co. of America from $181.00 to $187.00 and gave the stock a “neutral” rating in a research note on Monday, July 8th. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $194.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday, August 20th. Finally, Truist Financial lifted their price objective on shares of Packaging Co. of America from $215.00 to $219.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.50.

Insiders Place Their Bets

In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $196.28, for a total value of $1,057,752.92. Following the sale, the executive vice president now directly owns 25,539 shares in the company, valued at $5,012,794.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Packaging Co. of America news, EVP Charles J. Carter sold 5,389 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total transaction of $1,057,752.92. Following the sale, the executive vice president now owns 25,539 shares in the company, valued at approximately $5,012,794.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Donald R. Shirley sold 6,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $196.28, for a total value of $1,177,680.00. Following the sale, the senior vice president now owns 20,772 shares in the company, valued at approximately $4,077,128.16. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.

About Packaging Co. of America

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.