Nomura Asset Management Co. Ltd. reduced its stake in Packaging Corporation of America (NYSE:PKG) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,327 shares of the industrial products company’s stock after selling 43 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Packaging Corporation of America were worth $1,038,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PKG. Advisory Services Network LLC purchased a new position in Packaging Corporation of America during the first quarter worth approximately $113,000. TrimTabs Asset Management LLC raised its stake in shares of Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after buying an additional 608 shares during the last quarter. Creative Planning raised its stake in shares of Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock valued at $143,000 after buying an additional 484 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Packaging Corporation of America by 12.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company’s stock valued at $197,000 after buying an additional 231 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY bought a new stake in shares of Packaging Corporation of America during the first quarter valued at about $202,000. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Shares of Packaging Corporation of America (NYSE:PKG) traded up 0.18% during mid-day trading on Tuesday, hitting $109.62. 995,676 shares of the stock were exchanged. Packaging Corporation of America has a 12 month low of $74.11 and a 12 month high of $114.31. The firm has a market cap of $10.24 billion, a P/E ratio of 21.12 and a beta of 1.86. The stock’s 50 day moving average is $110.46 and its 200 day moving average is $99.33.

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

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

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Several equities research analysts have issued reports on PKG shares. Jefferies Group LLC reiterated a “buy” rating and set a $107.00 target price on shares of Packaging Corporation of America in a research report on Wednesday, April 12th. KeyCorp initiated coverage on shares of Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating for the company. Citigroup Inc. boosted their price objective on shares of Packaging Corporation of America from $106.00 to $112.00 and gave the stock a “neutral” rating in a report on Friday, April 14th. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Wells Fargo & Company downgraded shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday, July 10th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Packaging Corporation of America has an average rating of “Buy” and an average 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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