QS Investors LLC trimmed its stake in Packaging Corporation of America (NYSE:PKG) by 9.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,516 shares of the industrial products company’s stock after selling 6,800 shares during the period. QS Investors LLC owned 0.07% of Packaging Corporation of America worth $6,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bayesian Capital Management LP bought a new position in shares of Packaging Corporation of America in the 2nd quarter worth $267,000. Global Financial Private Capital LLC raised its position in shares of Packaging Corporation of America by 7.1% in the 2nd quarter. Global Financial Private Capital LLC now owns 11,721 shares of the industrial products company’s stock worth $1,306,000 after acquiring an additional 773 shares in the last quarter. Spears Abacus Advisors LLC bought a new position in shares of Packaging Corporation of America in the 2nd quarter worth $496,000. Teachers Retirement System of The State of Kentucky raised its position in shares of Packaging Corporation of America by 2.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 67,414 shares of the industrial products company’s stock worth $7,509,000 after acquiring an additional 1,756 shares in the last quarter. Finally, Ropes Wealth Advisors LLC raised its position in shares of Packaging Corporation of America by 1.8% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock worth $442,000 after acquiring an additional 69 shares in the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Packaging Corporation of America (NYSE:PKG) traded down 0.80% on Friday, reaching $114.68. The company had a trading volume of 829,808 shares. The company has a 50 day moving average of $111.39 and a 200-day moving average of $103.63. Packaging Corporation of America has a 52 week low of $78.03 and a 52 week high of $119.43. The company has a market capitalization of $10.74 billion, a P/E ratio of 22.10 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 return on equity of 27.78% and a net margin of 8.05%. Packaging Corporation of America’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. Analysts predict that Packaging Corporation of America will post $6.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction dated Tuesday, September 12th. The stock was 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 of the company’s stock, valued at approximately $18,289,073.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by insiders.

Several research analysts have recently commented on PKG shares. BidaskClub lowered Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. ValuEngine raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. BMO Capital Markets reissued a “buy” rating and issued a $104.00 price target on shares of Packaging Corporation of America in a research report on Friday, June 2nd. KeyCorp began coverage on Packaging Corporation of America in a research report on Thursday, July 6th. They issued a “sector weight” rating for the company. Finally, Wells Fargo & Company lowered Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research report on Monday, July 10th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Packaging Corporation of America currently has a consensus rating of “Hold” and a consensus price target of $107.90.

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Packaging Corporation of America Company 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.

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

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