Oakbrook Investments LLC raised its stake in Packaging Corp Of America (NYSE:PKG) by 173.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,412 shares of the industrial products company’s stock after acquiring an additional 7,235 shares during the quarter. Oakbrook Investments LLC’s holdings in Packaging Corp Of America were worth $1,252,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Packaging Corp Of America in the second quarter valued at approximately $125,000. Acadian Asset Management LLC acquired a new position in Packaging Corp Of America in the second quarter valued at approximately $155,000. Flagship Harbor Advisors LLC acquired a new position in Packaging Corp Of America in the second quarter valued at approximately $165,000. Qube Research & Technologies Ltd acquired a new position in Packaging Corp Of America in the second quarter valued at approximately $220,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Packaging Corp Of America in the second quarter valued at approximately $226,000. 87.25% of the stock is owned by institutional investors.

Shares of PKG opened at $87.92 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.73 and a quick ratio of 1.67. Packaging Corp Of America has a one year low of $86.98 and a one year high of $131.13. The company has a market cap of $8.31 billion, a P/E ratio of 14.60, a PEG ratio of 1.33 and a beta of 1.77.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the business earned $1.52 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. As a group, equities analysts predict that Packaging Corp Of America will post 7.91 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 14th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Thursday, September 13th. Packaging Corp Of America’s payout ratio is 52.49%.

PKG has been the subject of a number of analyst reports. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. ValuEngine downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a research note on Sunday, August 26th. BMO Capital Markets downgraded Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $130.00 to $108.00 in a research note on Tuesday, October 9th. Wells Fargo & Co reduced their target price on Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating for the company in a research note on Friday, July 27th. Finally, Barclays reduced their target price on Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating for the company in a research note on Monday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Packaging Corp Of America presently has an average rating of “Hold” and a consensus target price of $125.50.

Packaging Corp Of America Company 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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