First Allied Advisory Services Inc. lowered its stake in Packaging Corporation of America (NYSE:PKG) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,001 shares of the industrial products company’s stock after selling 72 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Packaging Corporation of America were worth $452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Packaging Corporation of America by 4.7% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 227,694 shares of the industrial products company’s stock worth $25,363,000 after purchasing an additional 10,141 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Packaging Corporation of America by 2.7% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 293,576 shares of the industrial products company’s stock worth $32,701,000 after purchasing an additional 7,705 shares during the period. Principal Financial Group Inc. boosted its stake in Packaging Corporation of America by 34.7% in the 2nd quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the industrial products company’s stock worth $144,594,000 after purchasing an additional 334,701 shares during the period. Candriam Luxembourg S.C.A. bought a new position in Packaging Corporation of America in the 2nd quarter worth about $486,000. Finally, AXA boosted its stake in Packaging Corporation of America by 77.8% in the 2nd quarter. AXA now owns 254,400 shares of the industrial products company’s stock worth $28,338,000 after purchasing an additional 111,300 shares during the period. Institutional investors and hedge funds own 88.18% of the company’s stock.

Shares of Packaging Corporation of America (NYSE PKG) opened at 117.06 on Friday. The stock’s 50 day moving average price is $113.80 and its 200-day moving average price is $105.52. 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 cap of $10.96 billion, a P/E ratio of 22.55 and a beta of 1.83.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $1.25 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. Equities research analysts expect that Packaging Corporation of America will post $6.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is currently 48.56%.

Several research analysts have commented on the company. Vertical Research restated a “buy” rating and issued a $124.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research note on Wednesday, August 23rd. BMO Capital Markets restated an “outperform” rating and issued a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a research note on Tuesday, August 22nd. Jefferies Group LLC restated a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research note on Friday, August 18th. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a “sell” rating to a “neutral” rating and raised their target price for the stock from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Packaging Corporation of America currently has an average rating of “Hold” and an average target price of $109.22.

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In related news, VP Thomas A. Hassfurther sold 6,000 shares of the 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 owns 155,071 shares in the company, valued at $18,289,073.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.20% of the company’s stock.

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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