Commonwealth Equity Services LLC grew its stake in Packaging Corp Of America (NYSE:PKG) by 1.3% in the 3rd quarter, Holdings Channel reports. The firm owned 11,379 shares of the industrial products company’s stock after purchasing an additional 149 shares during the period. Commonwealth Equity Services LLC’s holdings in Packaging Corp Of America were worth $1,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Hartline Investment Corp grew its position in shares of Packaging Corp Of America by 1.0% in the 2nd quarter. Hartline Investment Corp now owns 10,113 shares of the industrial products company’s stock worth $964,000 after buying an additional 100 shares during the period. CENTRAL TRUST Co grew its position in shares of Packaging Corp Of America by 3.2% in the 2nd quarter. CENTRAL TRUST Co now owns 3,280 shares of the industrial products company’s stock worth $325,000 after buying an additional 102 shares during the period. Scotia Capital Inc. grew its position in shares of Packaging Corp Of America by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 5,861 shares of the industrial products company’s stock worth $559,000 after buying an additional 103 shares during the period. Securian Asset Management Inc grew its position in shares of Packaging Corp Of America by 1.2% in the 2nd quarter. Securian Asset Management Inc now owns 9,721 shares of the industrial products company’s stock worth $927,000 after buying an additional 115 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Packaging Corp Of America by 6.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,192 shares of the industrial products company’s stock worth $209,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 87.92% of the company’s stock.

A number of research firms have recently weighed in on PKG. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 target price on the stock. in a research report on Monday, October 14th. ValuEngine downgraded shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Bank of America upped their target price on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Wells Fargo & Co upped their target price on shares of Packaging Corp Of America from $100.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Finally, KeyCorp reaffirmed a “sell” rating and issued a $89.00 target price on shares of Packaging Corp Of America in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $105.45.

Shares of PKG stock opened at $112.77 on Thursday. Packaging Corp Of America has a one year low of $77.90 and a one year high of $114.78. The company’s 50-day moving average is $108.26 and its 200 day moving average is $100.83. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 2.97 and a beta of 1.69. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.24 and a current ratio of 3.28.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the firm posted $2.23 EPS. Packaging Corp Of America’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, research analysts predict that Packaging Corp Of America will post 7.67 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 2.80%. The ex-dividend date was Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio (DPR) is 39.35%.

About Packaging Corp Of America

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.

See Also: Fundamental Analysis and Choosing Stocks

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corp Of America (NYSE:PKG).

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

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.