Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Packaging Co. of America (NYSE:PKG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Packaging Co. of America (NYSE:PKG) by 11.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 141,683 shares of the industrial products company’s stock after buying an additional 14,253 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Packaging Co. of America were worth $32,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in PKG. Sanctuary Advisors LLC increased its holdings in shares of Packaging Co. of America by 17.0% in the third quarter. Sanctuary Advisors LLC now owns 20,270 shares of the industrial products company’s stock valued at $4,366,000 after purchasing an additional 2,946 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in Packaging Co. of America during the 4th quarter worth approximately $293,000. AlphaQuest LLC lifted its stake in Packaging Co. of America by 25.3% during the 4th quarter. AlphaQuest LLC now owns 9,683 shares of the industrial products company’s stock valued at $2,180,000 after acquiring an additional 1,954 shares during the period. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the 4th quarter valued at $6,966,000. Finally, Sciencast Management LP acquired a new stake in shares of Packaging Co. of America in the fourth quarter worth $2,853,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $195.40 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The company’s fifty day moving average price is $210.46 and its 200 day moving average price is $222.16. The stock has a market capitalization of $17.55 billion, a P/E ratio of 21.88, a P/E/G ratio of 2.41 and a beta of 0.77. Packaging Co. of America has a 1 year low of $169.00 and a 1 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 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, equities research analysts anticipate that Packaging Co. of America will post 10.44 earnings per share for the current fiscal year.

Packaging Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $1.25 dividend. The ex-dividend date is Friday, March 14th. This represents a $5.00 annualized dividend and a dividend yield of 2.56%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PKG shares. Seaport Res Ptn raised shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $265.00 target price (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup raised their price objective on shares of Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on shares of 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.