Rowland & Co. Investment Counsel ADV reduced its stake in Packaging Corporation of America (NYSE:PKG) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,216 shares of the industrial products company’s stock after selling 273 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in Packaging Corporation of America were worth $359,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its holdings in Packaging Corporation of America by 84.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after buying an additional 665 shares in the last quarter. Creative Planning grew its holdings in Packaging Corporation of America by 7.9% in the 2nd quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after buying an additional 123 shares in the last quarter. Atria Investments LLC purchased a new stake in Packaging Corporation of America in the 2nd quarter valued at $200,000. Oppenheimer & Co. Inc. purchased a new stake in Packaging Corporation of America in the 1st quarter valued at $207,000. Finally, Van ECK Associates Corp grew its holdings in Packaging Corporation of America by 4.9% in the 1st quarter. Van ECK Associates Corp now owns 2,268 shares of the industrial products company’s stock valued at $208,000 after buying an additional 106 shares in the last quarter. Institutional investors own 88.18% of the company’s stock.

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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 stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.20% of the stock is owned by insiders.

Several analysts have issued reports on PKG shares. BidaskClub cut Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. KeyCorp started coverage on Packaging Corporation of America in a report on Thursday, July 6th. They issued a “sector weight” rating for the company. BMO Capital Markets upped their target price on Packaging Corporation of America from $104.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, June 30th. Wells Fargo & Company cut Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $128.00 target price (up from $114.00) on shares of Packaging Corporation of America in a report on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $109.22.

Shares of Packaging Corporation of America (PKG) traded up 0.14% during trading on Monday, hitting $116.66. The stock had a trading volume of 116,511 shares. The stock’s 50 day moving average is $113.97 and its 200-day moving average is $105.68. 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 $10.93 billion, a PE ratio of 22.48 and a beta of 1.83.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. The business 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%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Analysts forecast that Packaging Corporation of America will post $6.03 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is currently 48.56%.

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.

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

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