Northern Trust Corp raised its position in shares of Packaging Corporation of America (NYSE:PKG) by 4.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,078,479 shares of the industrial products company’s stock after purchasing an additional 46,737 shares during the period. Northern Trust Corp owned approximately 1.14% of Packaging Corporation of America worth $120,132,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in Packaging Corporation of America by 1.5% during the second quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock valued at $256,000 after purchasing an additional 34 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Packaging Corporation of America by 0.9% during the second quarter. Mutual of America Capital Management LLC now owns 105,428 shares of the industrial products company’s stock valued at $11,744,000 after purchasing an additional 934 shares in the last quarter. Thrivent Financial For Lutherans raised its position in Packaging Corporation of America by 1.8% during the second quarter. Thrivent Financial For Lutherans now owns 78,432 shares of the industrial products company’s stock valued at $8,737,000 after purchasing an additional 1,410 shares in the last quarter. Laurion Capital Management LP raised its position in Packaging Corporation of America by 118.9% during the second quarter. Laurion Capital Management LP now owns 27,800 shares of the industrial products company’s stock valued at $3,096,000 after purchasing an additional 15,100 shares in the last quarter. Finally, Amalgamated Bank raised its position in Packaging Corporation of America by 26.6% during the second quarter. Amalgamated Bank now owns 19,039 shares of the industrial products company’s stock valued at $2,121,000 after purchasing an additional 4,001 shares in the last quarter. Institutional investors and hedge funds own 88.18% of the company’s stock.

A number of research firms have weighed in on PKG. BMO Capital Markets restated a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC set a $114.00 price objective on Packaging Corporation of America and gave the stock a “buy” rating in a report on Thursday, June 1st. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. KeyCorp assumed coverage on Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating on the stock. Finally, Zacks Investment Research upgraded Packaging Corporation of America from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $107.90.

Shares of Packaging Corporation of America (PKG) opened at 115.29 on Thursday. The stock has a 50 day moving average price of $111.39 and a 200-day moving average price of $103.63. Packaging Corporation of America has a 12 month low of $78.03 and a 12 month high of $119.43. The company has a market capitalization of $10.80 billion, a PE ratio of 22.21 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last announced its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. Packaging Corporation of America’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the firm earned $1.25 earnings per share. Analysts forecast that Packaging Corporation of America will post $6.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 annualized dividend and a dividend yield of 2.19%. Packaging Corporation of America’s payout ratio is currently 48.56%.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares in the company, valued at $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.20% of the company’s stock.

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Packaging Corporation of America Profile

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.

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

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