Iridian Asset Management LLC CT decreased its stake in Packaging Corporation of America (NYSE:PKG) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,465,018 shares of the industrial products company’s stock after selling 20,964 shares during the quarter. Iridian Asset Management LLC CT owned approximately 1.55% of Packaging Corporation of America worth $168,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Packaging Corporation of America by 2.3% in the second quarter. Vanguard Group Inc. now owns 8,430,256 shares of the industrial products company’s stock valued at $939,046,000 after purchasing an additional 191,348 shares during the period. Bank of New York Mellon Corp grew its position in shares of Packaging Corporation of America by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 4,097,547 shares of the industrial products company’s stock valued at $456,426,000 after purchasing an additional 62,507 shares during the period. State Street Corp grew its position in shares of Packaging Corporation of America by 1.0% in the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock valued at $371,683,000 after purchasing an additional 31,624 shares during the period. Wells Fargo & Company MN grew its position in shares of Packaging Corporation of America by 4.1% in the second quarter. Wells Fargo & Company MN now owns 2,459,871 shares of the industrial products company’s stock valued at $274,005,000 after purchasing an additional 96,282 shares during the period. Finally, First Eagle Investment Management LLC grew its position in shares of Packaging Corporation of America by 17.9% in the third quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock valued at $240,839,000 after purchasing an additional 319,452 shares during the period. Institutional investors and hedge funds own 88.02% of the company’s stock.

Shares of Packaging Corporation of America (PKG) traded up $0.02 during mid-day trading on Friday, reaching $111.87. 632,300 shares of the company’s stock were exchanged, compared to its average volume of 902,267. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. Packaging Corporation of America has a one year low of $84.01 and a one year high of $120.75. The stock has a market capitalization of $10,630.00, a P/E ratio of 19.62, a PEG ratio of 2.24 and a beta of 1.82.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $1.30 earnings per share. Packaging Corporation of America’s revenue for the quarter was up 10.5% on a year-over-year basis. analysts anticipate that Packaging Corporation of America will post 5.99 earnings per share for the current fiscal year.

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Several analysts have recently issued reports on PKG shares. Jefferies Group LLC reiterated a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 18th. BMO Capital Markets reiterated a “buy” rating and issued a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Vertical Research reiterated 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 report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $117.36.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total value of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Wayne Moreau purchased 1,326,000 shares of Packaging Corporation of America stock in a transaction dated Thursday, September 14th. The stock was bought at an average cost of $0.06 per share, for a total transaction of $79,560.00. Insiders have sold 43,177 shares of company stock worth $2,129,972 over the last ninety days. 1.20% of the stock is owned by insiders.

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.

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

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