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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Packaging Co. of America (NYSE:PKG) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,683 shares of the industrial products company’s stock after purchasing an additional 14,253 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of Packaging Co. of America worth $32,003,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Fortitude Family Office LLC boosted its stake in Packaging Co. of America by 150.8% during the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock worth $37,000 after buying an additional 98 shares during the period. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% during the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 115 shares during the period. Centricity Wealth Management LLC bought a new position in Packaging Co. of America during the 4th quarter valued at about $44,000. Golden State Wealth Management LLC purchased a new stake in Packaging Co. of America in the 4th quarter worth about $48,000. Finally, Rialto Wealth Management LLC bought a new stake in Packaging Co. of America in the fourth quarter worth about $63,000. Institutional investors own 89.78% of the company’s stock.

Analyst Ratings Changes

PKG has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $265.00 price target (down from $282.00) on shares of Packaging Co. of America in a report on Thursday, January 30th. Citigroup lifted their target price on Packaging Co. of America from $232.00 to $235.00 and gave the stock a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company cut their price target on shares of Packaging Co. of America from $253.00 to $236.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. StockNews.com upgraded shares of Packaging Co. of America from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Seaport Res Ptn upgraded shares of Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Price Performance

Shares of PKG 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 has a 50 day moving average price of $210.46 and a 200-day moving average price of $222.16. Packaging Co. of America has a fifty-two week low of $169.00 and a fifty-two week high of $250.82. The stock has a market capitalization of $17.55 billion, a PE ratio of 21.88, a PEG ratio of 2.41 and a beta of 0.77.

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

Packaging Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued 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 yield of 2.56%. Packaging Co. of America’s dividend payout ratio is presently 55.99%.

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.