Bahl & Gaynor Inc. Has $50.84 Million Stake in Packaging Co. of America (NYSE:PKG)

Bahl & Gaynor Inc. raised its stake in shares of Packaging Co. of America (NYSE:PKG) by 14.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,834 shares of the industrial products company’s stock after buying an additional 27,924 shares during the quarter. Bahl & Gaynor Inc. owned about 0.25% of Packaging Co. of America worth $50,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PKG. Larson Financial Group LLC raised its holdings in Packaging Co. of America by 234.7% in the third 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. Fortitude Family Office LLC grew its stake in Packaging Co. of America by 150.8% in the fourth quarter. Fortitude Family Office LLC now owns 163 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 98 shares during the period. Centricity Wealth Management LLC acquired a new stake in shares of Packaging Co. of America during the fourth quarter worth about $44,000. Golden State Wealth Management LLC bought a new position in shares of Packaging Co. of America during the 4th quarter valued at about $48,000. Finally, Assetmark Inc. grew its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 83 shares during the period. 89.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

PKG has been the topic of a number of research reports. 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 research note on Thursday, January 30th. Seaport Res Ptn upgraded Packaging Co. of America from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 13th. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, February 26th. Jefferies Financial Group upgraded Packaging Co. of America from a “hold” rating to a “buy” rating and increased their price objective for the stock from $215.00 to $280.00 in a report on Wednesday, December 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $265.00 price target (down previously from $282.00) on shares of Packaging Co. of America in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Packaging Co. of America currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.00.

Packaging Co. of America Stock Down 1.7 %

PKG opened at $209.39 on Tuesday. The stock’s fifty day simple moving average is $221.83 and its 200 day simple moving average is $222.91. Packaging Co. of America has a 1-year low of $169.00 and a 1-year high of $250.82. The stock has a market cap of $18.80 billion, a PE ratio of 23.45, a price-to-earnings-growth 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.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, January 28th. The industrial products company reported $2.47 earnings per share for the quarter, missing the consensus estimate 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%. As a group, research analysts expect that Packaging Co. of America will post 10.44 earnings per share for the current year.

Packaging Co. of America Dividend Announcement

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. This represents a $5.00 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, March 14th. Packaging Co. of America’s payout ratio is 55.99%.

Packaging Co. of America Company 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.