Packaging Co. of America (NYSE:PKG) Announces Quarterly Dividend of $1.25

Packaging Co. of America (NYSE:PKG) declared a quarterly dividend on Wednesday, May 8th, RTT News reports. Investors of record on Friday, June 14th will be paid a dividend of 1.25 per share by the industrial products company on Monday, July 15th. This represents a $5.00 dividend on an annualized basis and a yield of 2.80%.

Packaging Co. of America has a payout ratio of 49.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Packaging Co. of America to earn $9.13 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 54.8%.

Packaging Co. of America Trading Down 0.3 %

Shares of PKG stock traded down $0.61 on Wednesday, hitting $178.54. The stock had a trading volume of 405,646 shares, compared to its average volume of 685,953. The company has a current ratio of 2.57, a quick ratio of 1.77 and a debt-to-equity ratio of 0.62. Packaging Co. of America has a twelve month low of $122.20 and a twelve month high of $191.27. The company has a fifty day moving average price of $182.41 and a two-hundred day moving average price of $169.64. The firm has a market cap of $16.02 billion, a P/E ratio of 22.39, a PEG ratio of 4.29 and a beta of 0.80.

Packaging Co. of America (NYSE:PKG) last announced its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.09. Packaging Co. of America had a return on equity of 18.94% and a net margin of 9.25%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $2.20 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Packaging Co. of America will post 8.21 earnings per share for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 10,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total value of $1,825,100.00. Following the transaction, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Packaging Co. of America news, VP Thomas A. Hassfurther sold 13,850 shares of Packaging Co. of America stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $181.06, for a total value of $2,507,681.00. Following the completion of the sale, the vice president now owns 187,647 shares in the company, valued at approximately $33,975,365.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert P. Mundy sold 10,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $182.51, for a total transaction of $1,825,100.00. Following the completion of the sale, the chief financial officer now directly owns 46,454 shares of the company’s stock, valued at approximately $8,478,319.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,041 shares of company stock worth $6,799,177. 1.70% of the stock is owned by insiders.

Analysts Set New Price Targets

PKG has been the topic of several recent research reports. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Seaport Res Ptn downgraded Packaging Co. of America from a “buy” rating to a “neutral” rating in a research note on Monday, January 29th. Bank of America upgraded Packaging Co. of America from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $172.00 to $202.00 in a research note on Monday, March 4th. BNP Paribas lowered shares of Packaging Co. of America from an “outperform” rating to a “neutral” rating and set a $182.00 price target on the stock. in a research report on Friday, April 12th. Finally, Citigroup cut their price target on shares of Packaging Co. of America from $183.00 to $181.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $173.57.

Packaging Co. of America Company 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.