Camden National Bank Decreases Stock Holdings in Packaging Co. of America (NYSE:PKG)

Camden National Bank reduced its position in shares of Packaging Co. of America (NYSE:PKG) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,585 shares of the industrial products company’s stock after selling 636 shares during the period. Camden National Bank’s holdings in Packaging Co. of America were worth $8,011,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PKG. SYM FINANCIAL Corp lifted its position in Packaging Co. of America by 3.1% in the fourth quarter. SYM FINANCIAL Corp now owns 1,405 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 42 shares during the last quarter. Mather Group LLC. lifted its position in Packaging Co. of America by 1.7% in the fourth quarter. Mather Group LLC. now owns 2,586 shares of the industrial products company’s stock valued at $582,000 after acquiring an additional 43 shares during the last quarter. UMB Bank n.a. lifted its position in Packaging Co. of America by 3.9% in the fourth quarter. UMB Bank n.a. now owns 1,165 shares of the industrial products company’s stock valued at $262,000 after acquiring an additional 44 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Packaging Co. of America by 15.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 49 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its position in Packaging Co. of America by 3.9% in the fourth quarter. AlphaMark Advisors LLC now owns 1,384 shares of the industrial products company’s stock valued at $312,000 after acquiring an additional 52 shares during the last quarter. 89.78% of the stock is owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 1.5 %

NYSE:PKG opened at $206.82 on Friday. The firm has a market cap of $18.57 billion, a P/E ratio of 23.16, a PEG ratio of 2.41 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $220.32 and its 200-day simple moving average is $222.69. Packaging Co. of America has a 12-month low of $169.00 and a 12-month 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 earnings per share (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%. Equities analysts anticipate that Packaging Co. of America will post 10.44 EPS for the current year.

Packaging Co. of America Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. Packaging Co. of America’s dividend payout ratio (DPR) is presently 55.99%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PKG shares. Citigroup boosted their price target on shares of Packaging Co. of America from $232.00 to $235.00 and gave the company a “neutral” rating in a research report on Monday, January 6th. Truist Financial reissued a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Wells Fargo & Company reduced their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. StockNews.com raised shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Wednesday, February 26th. Finally, Seaport Res Ptn raised Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. Two investment 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’s stock. According to data from MarketBeat, the stock has an average 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.