Beacon Harbor Wealth Advisors Inc. Buys Shares of 28,368 Packaging Co. of America (NYSE:PKG)

Beacon Harbor Wealth Advisors Inc. bought a new stake in Packaging Co. of America (NYSE:PKG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 28,368 shares of the industrial products company’s stock, valued at approximately $6,110,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Boston Partners raised its position in Packaging Co. of America by 49.3% during the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Packaging Co. of America by 34.3% during the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock worth $187,596,000 after buying an additional 262,315 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Packaging Co. of America by 164.3% during the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after buying an additional 249,483 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Packaging Co. of America by 41,151.7% during the 3rd quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after buying an additional 155,142 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Packaging Co. of America by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,153,732 shares of the industrial products company’s stock valued at $210,636,000 after buying an additional 86,005 shares in the last quarter. Institutional investors own 89.78% of the company’s stock.

Packaging Co. of America Stock Down 0.9 %

NYSE:PKG opened at $239.48 on Friday. Packaging Co. of America has a one year low of $148.50 and a one year high of $245.00. 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 company has a market cap of $21.51 billion, a PE ratio of 27.91, a P/E/G ratio of 3.26 and a beta of 0.76. The firm’s 50 day simple moving average is $217.31 and its 200 day simple moving average is $197.25.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates 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 revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, research analysts anticipate that Packaging Co. of America will post 9 earnings per share for the current year.

Packaging Co. of America Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a $1.25 dividend. The ex-dividend date was Monday, September 16th. This represents a $5.00 annualized dividend and a dividend yield of 2.09%. Packaging Co. of America’s payout ratio is 58.28%.

Analyst Ratings Changes

A number of research firms have recently commented on PKG. StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Truist Financial reiterated a “buy” rating and set a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup raised their target price on shares of Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.