Mizuho Securities USA LLC Boosts Stake in Packaging Co. of America (NYSE:PKG)

Mizuho Securities USA LLC increased its holdings in shares of Packaging Co. of America (NYSE:PKG) by 46.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 8,451 shares of the industrial products company’s stock after buying an additional 2,669 shares during the period. Mizuho Securities USA LLC’s holdings in Packaging Co. of America were worth $1,903,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Packaging Co. of America during the fourth quarter worth approximately $779,000. Quantbot Technologies LP acquired a new stake in shares of Packaging Co. of America in the 4th quarter worth $5,084,000. Adams Natural Resources Fund Inc. raised its holdings in shares of Packaging Co. of America by 25.4% during 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 acquiring an additional 1,500 shares during the period. Sciencast Management LP acquired a new position in shares of Packaging Co. of America during the 4th quarter valued at about $2,853,000. Finally, Summit Global Investments purchased a new stake in shares of Packaging Co. of America in the fourth quarter valued at about $2,715,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Trading Up 3.2 %

PKG opened at $200.54 on Tuesday. 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 firm has a market cap of $18.01 billion, a P/E ratio of 22.46, a P/E/G 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. The business has a fifty day simple moving average of $213.43 and a 200-day simple moving average of $222.45.

Packaging Co. of America (NYSE:PKG) last announced its earnings results on Tuesday, January 28th. The industrial products company reported $2.47 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%. On average, equities analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

The firm 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 dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Friday, March 14th. Packaging Co. of America’s payout ratio is currently 55.99%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PKG shares. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday. 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. Wells Fargo & Company cut their target price on Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Truist Financial reaffirmed a “buy” rating and issued a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research note on Thursday, January 30th. Finally, Jefferies Financial Group raised Packaging Co. of America from a “hold” rating to a “buy” rating and raised their price objective for the stock from $215.00 to $280.00 in a research report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.