Pacer Advisors Inc. grew its position in Packaging Corp Of America (NYSE:PKG) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,914 shares of the industrial products company’s stock after acquiring an additional 345 shares during the quarter. Pacer Advisors Inc.’s holdings in Packaging Corp Of America were worth $850,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of PKG. BlackRock Inc. increased its holdings in shares of Packaging Corp Of America by 7.2% in the 1st quarter. BlackRock Inc. now owns 10,289,922 shares of the industrial products company’s stock valued at $1,022,613,000 after acquiring an additional 692,098 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Packaging Corp Of America by 21.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,611,939 shares of the industrial products company’s stock valued at $245,418,000 after purchasing an additional 456,865 shares during the period. AJO LP boosted its position in Packaging Corp Of America by 141.4% during the 1st quarter. AJO LP now owns 609,050 shares of the industrial products company’s stock valued at $60,527,000 after purchasing an additional 356,732 shares during the period. Renaissance Technologies LLC acquired a new position in Packaging Corp Of America during the 2nd quarter valued at approximately $17,262,000. Finally, Dimensional Fund Advisors LP boosted its position in Packaging Corp Of America by 20.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 842,218 shares of the industrial products company’s stock valued at $70,288,000 after purchasing an additional 145,624 shares during the period. Institutional investors and hedge funds own 88.27% of the company’s stock.
NYSE:PKG traded up $1.34 during midday trading on Friday, reaching $108.37. 787,601 shares of the company traded hands, compared to its average volume of 700,671. Packaging Corp Of America has a twelve month low of $77.90 and a twelve month high of $118.88. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 2.78 and a beta of 1.71. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.29 and a quick ratio of 2.18. The company has a fifty day moving average price of $100.94 and a 200 day moving average price of $98.15.
Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.04. Packaging Corp Of America had a return on equity of 29.23% and a net margin of 11.23%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm posted $2.08 EPS. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Packaging Corp Of America will post 7.7 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 2.92%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 39.35%.
In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,000 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total transaction of $601,020.00. Following the completion of the transaction, the senior vice president now owns 34,118 shares in the company, valued at approximately $3,417,600.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald R. Shirley sold 5,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $101.48, for a total value of $507,400.00. Following the transaction, the senior vice president now owns 12,790 shares of the company’s stock, valued at approximately $1,297,929.20. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
A number of research firms recently issued reports on PKG. ValuEngine upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. UBS Group set a $106.00 price objective on Packaging Corp Of America and gave the company a “buy” rating in a research report on Monday, June 24th. Seaport Global Securities lowered Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, KeyCorp lowered Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 price objective for the company. in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $100.09.
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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