Rhumbline Advisers Raises Holdings in Packaging Co. of America (NYSE:PKG)

Rhumbline Advisers increased its holdings in Packaging Co. of America (NYSE:PKGGet Rating) by 9.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 200,868 shares of the industrial products company’s stock after acquiring an additional 16,922 shares during the period. Rhumbline Advisers’ holdings in Packaging Co. of America were worth $27,619,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PKG. Signaturefd LLC grew its position in Packaging Co. of America by 32.3% in the first quarter. Signaturefd LLC now owns 570 shares of the industrial products company’s stock worth $89,000 after acquiring an additional 139 shares during the period. DAVENPORT & Co LLC purchased a new position in Packaging Co. of America in the first quarter worth approximately $205,000. National Asset Management Inc. grew its position in Packaging Co. of America by 68.2% in the first quarter. National Asset Management Inc. now owns 2,780 shares of the industrial products company’s stock worth $434,000 after acquiring an additional 1,127 shares during the period. Metis Global Partners LLC purchased a new position in Packaging Co. of America in the first quarter worth approximately $236,000. Finally, Arizona State Retirement System grew its position in Packaging Co. of America by 2.2% in the first quarter. Arizona State Retirement System now owns 26,441 shares of the industrial products company’s stock worth $4,128,000 after acquiring an additional 577 shares during the period. 89.80% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Co. of America Trading Up 0.0 %

NYSE:PKG opened at $133.35 on Thursday. The firm has a market cap of $12.34 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.84. The stock has a fifty day moving average price of $119.96 and a 200 day moving average price of $135.69. Packaging Co. of America has a 12-month low of $110.56 and a 12-month high of $168.50. The company has a current ratio of 3.02, a quick ratio of 1.99 and a debt-to-equity ratio of 0.63.

Packaging Co. of America (NYSE:PKGGet Rating) last released its earnings results on Tuesday, October 25th. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.02. Packaging Co. of America had a return on equity of 28.32% and a net margin of 12.09%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the business posted $2.69 earnings per share. Packaging Co. of America’s revenue was up 5.0% compared to the same quarter last year. Sell-side analysts anticipate that Packaging Co. of America will post 11.02 earnings per share for the current fiscal year.

Packaging Co. of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Monday, October 3rd were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Friday, September 30th. Packaging Co. of America’s dividend payout ratio is presently 45.54%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. BMO Capital Markets lowered their price target on Packaging Co. of America from $155.00 to $130.00 in a research report on Wednesday, October 26th. Jefferies Financial Group lowered Packaging Co. of America from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $130.00 to $112.00 in a research report on Friday, September 16th. Citigroup lowered their price target on Packaging Co. of America from $147.00 to $124.00 and set a “neutral” rating for the company in a research report on Tuesday, October 11th. Bank of America lowered their price target on Packaging Co. of America from $155.00 to $134.00 in a research report on Thursday, October 13th. Finally, Wells Fargo & Company lowered their price target on Packaging Co. of America from $143.00 to $124.00 and set an “equal weight” rating for the company in a research report on Thursday, October 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Packaging Co. of America presently has an average rating of “Hold” and a consensus target price of $133.89.

Packaging Co. of America Profile

(Get Rating)

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through Packaging and Paper segments. The Packaging segment offers various containerboard and 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, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.

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

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