Sciencast Management LP acquired a new stake in shares of Packaging Corp Of America (NYSE:PKG) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,446 shares of the industrial products company’s stock, valued at approximately $1,559,000. Packaging Corp Of America accounts for about 0.8% of Sciencast Management LP’s investment portfolio, making the stock its 16th largest position.

Several other hedge funds have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its stake in Packaging Corp Of America by 13.9% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 206,066 shares of the industrial products company’s stock valued at $23,224,000 after acquiring an additional 25,169 shares in the last quarter. Point72 Asia Hong Kong Ltd grew its stake in Packaging Corp Of America by 206.0% during the first quarter. Point72 Asia Hong Kong Ltd now owns 2,087 shares of the industrial products company’s stock valued at $235,000 after acquiring an additional 1,405 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Packaging Corp Of America by 107.1% during the first quarter. Cubist Systematic Strategies LLC now owns 40,055 shares of the industrial products company’s stock valued at $4,514,000 after acquiring an additional 20,714 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Packaging Corp Of America by 135.6% during the first quarter. Point72 Asset Management L.P. now owns 249,717 shares of the industrial products company’s stock valued at $28,143,000 after acquiring an additional 143,717 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Packaging Corp Of America by 66.7% during the first quarter. LPL Financial LLC now owns 9,647 shares of the industrial products company’s stock valued at $1,087,000 after acquiring an additional 3,859 shares in the last quarter. Hedge funds and other institutional investors own 86.72% of the company’s stock.

In other Packaging Corp Of America news, Director Paul T. Stecko sold 566 shares of Packaging Corp Of America stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $120.94, for a total value of $68,452.04. Following the completion of the transaction, the director now directly owns 69,077 shares of the company’s stock, valued at approximately $8,354,172.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

PKG has been the subject of several research analyst reports. Zacks Investment Research cut shares of Packaging Corp Of America from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 27th. Citigroup cut their target price on shares of Packaging Corp Of America from $136.00 to $123.00 and set a “neutral” rating for the company in a research note on Thursday, April 5th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, April 25th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Packaging Corp Of America presently has an average rating of “Buy” and a consensus target price of $128.92.

Shares of Packaging Corp Of America opened at $120.64 on Thursday, Marketbeat Ratings reports. Packaging Corp Of America has a 52 week low of $104.29 and a 52 week high of $131.13. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.87 and a beta of 1.80. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.72 and a quick ratio of 1.58.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, April 24th. The industrial products company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.02. Packaging Corp Of America had a net margin of 10.48% and a return on equity of 28.10%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company posted $1.27 EPS. The business’s revenue was up 10.0% on a year-over-year basis. research analysts expect that Packaging Corp Of America will post 7.96 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 15th will be paid a $0.79 dividend. This is a boost from Packaging Corp Of America’s previous quarterly dividend of $0.63. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, June 14th. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 41.86%.

Packaging Corp Of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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