Orion Portfolio Solutions LLC Purchases New Shares in Packaging Corp Of America (NYSE:PKG)

Share on StockTwits

Orion Portfolio Solutions LLC acquired a new stake in Packaging Corp Of America (NYSE:PKG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 843 shares of the industrial products company’s stock, valued at approximately $94,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. grew its position in shares of Packaging Corp Of America by 8.8% in the fourth quarter. First Republic Investment Management Inc. now owns 60,286 shares of the industrial products company’s stock valued at $6,751,000 after purchasing an additional 4,857 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $501,000. Ancora Advisors LLC purchased a new stake in shares of Packaging Corp Of America during the fourth quarter worth approximately $45,000. Bank of America Corp DE raised its stake in Packaging Corp Of America by 6.9% in the 4th quarter. Bank of America Corp DE now owns 6,942,326 shares of the industrial products company’s stock valued at $777,471,000 after purchasing an additional 446,736 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in Packaging Corp Of America by 7.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 370,890 shares of the industrial products company’s stock valued at $41,536,000 after purchasing an additional 26,168 shares during the last quarter. 93.92% of the stock is owned by institutional investors.

NYSE:PKG traded up $7.44 during trading hours on Thursday, hitting $87.27. The company’s stock had a trading volume of 1,004,051 shares, compared to its average volume of 1,045,335. The stock has a market capitalization of $8.05 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 2.68 and a beta of 1.60. The stock has a fifty day moving average of $93.00 and a 200-day moving average of $104.49. The company has a current ratio of 3.42, a quick ratio of 2.33 and a debt-to-equity ratio of 0.87. Packaging Corp Of America has a 52-week low of $71.05 and a 52-week high of $114.78.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.70 by $0.01. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Packaging Corp Of America had a return on equity of 24.57% and a net margin of 10.00%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.17 EPS. On average, sell-side analysts forecast that Packaging Corp Of America will post 5.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a dividend of $0.79 per share. The ex-dividend date is Thursday, March 12th. This represents a $3.16 annualized dividend and a yield of 3.62%. Packaging Corp Of America’s dividend payout ratio is currently 41.31%.

In related news, Director Robert C. Lyons acquired 1,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was bought at an average price of $96.88 per share, for a total transaction of $96,880.00. Following the completion of the purchase, the director now directly owns 9,164 shares of the company’s stock, valued at approximately $887,808.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.20% of the stock is owned by insiders.

PKG has been the topic of several recent research reports. DA Davidson reaffirmed a “buy” rating on shares of Packaging Corp Of America in a research note on Friday, January 31st. Argus raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $118.00 target price on the stock in a research note on Thursday, March 19th. Deutsche Bank raised their target price on Packaging Corp Of America from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Exane BNP Paribas initiated coverage on shares of Packaging Corp Of America in a report on Monday, December 2nd. They issued a “neutral” rating and a $118.00 target price on the stock. Finally, Zacks Investment Research raised shares of Packaging Corp Of America from a “sell” rating to a “hold” rating and set a $116.00 price target on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Packaging Corp Of America has a consensus rating of “Hold” and a consensus price target of $107.79.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

Recommended Story: What is Depreciation?

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corp Of America (NYSE:PKG).

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply