Teachers Advisors LLC increased its stake in Packaging Corporation of America (NYSE:PKG) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 234,871 shares of the industrial products company’s stock after buying an additional 5,141 shares during the period. Teachers Advisors LLC owned approximately 0.25% of Packaging Corporation of America worth $21,519,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock valued at $369,689,000 after buying an additional 318,194 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Packaging Corporation of America by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,363,589 shares of the industrial products company’s stock worth $216,553,000 after buying an additional 9,695 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock worth $126,319,000 after buying an additional 1,328,725 shares during the period. Principal Financial Group Inc. increased its stake in shares of Packaging Corporation of America by 2.2% in the first quarter. Principal Financial Group Inc. now owns 963,385 shares of the industrial products company’s stock worth $88,266,000 after buying an additional 20,476 shares during the period. Finally, Norges Bank acquired a new stake in shares of Packaging Corporation of America during the fourth quarter worth about $76,763,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Packaging Corporation of America (NYSE PKG) traded up 0.31% during mid-day trading on Monday, hitting $109.42. The company had a trading volume of 766,067 shares. The stock has a market capitalization of $10.22 billion, a PE ratio of 21.08 and a beta of 1.86. Packaging Corporation of America has a 1-year low of $73.34 and a 1-year high of $114.31. The stock has a 50 day moving average price of $110.08 and a 200-day moving average price of $99.10.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 28.31%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts forecast that Packaging Corporation of America will post $6.00 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Tuesday, June 13th. Packaging Corporation of America’s payout ratio is 48.56%.

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A number of equities research analysts recently issued reports on PKG shares. Barclays PLC lowered their price objective on Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Monday, May 1st. BidaskClub downgraded Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Citigroup Inc. raised their price target on Packaging Corporation of America from $106.00 to $112.00 and gave the company a “neutral” rating in a research report on Friday, April 14th. Jefferies Group LLC restated a “buy” rating and set a $107.00 price target on shares of Packaging Corporation of America in a research report on Wednesday, April 12th. Finally, Wells Fargo & Company downgraded Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research report on Monday, July 10th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $102.73.

About Packaging Corporation of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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