Candriam Luxembourg S.C.A. purchased a new position in Packaging Corporation of America (NYSE:PKG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,366 shares of the industrial products company’s stock, valued at approximately $486,000.

Several other large investors also recently bought and sold shares of PKG. BlackRock Inc. boosted its stake in Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after buying an additional 13,193,032 shares during the period. Vanguard Group Inc. boosted its stake in Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after buying an additional 445,345 shares during the period. Bank of New York Mellon Corp boosted its stake in Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock worth $369,689,000 after buying an additional 318,194 shares during the period. Bank of America Corp DE boosted its stake in Packaging Corporation of America by 9.8% in the first quarter. Bank of America Corp DE now owns 2,461,352 shares of the industrial products company’s stock worth $225,509,000 after buying an additional 219,410 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Packaging Corporation of America by 0.4% in the first quarter. Wells Fargo & Company MN now owns 2,363,589 shares of the industrial products company’s stock worth $216,553,000 after buying an additional 9,695 shares during the period. 88.92% of the stock is currently owned by institutional investors.

Packaging Corporation of America (PKG) opened at 109.29 on Wednesday. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 21.06 and a beta of 1.86. The stock’s 50 day moving average is $110.51 and its 200-day moving average is $100.44. Packaging Corporation of America has a 52-week low of $74.95 and a 52-week high of $114.31.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm earned $1.25 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities research analysts anticipate that Packaging Corporation of America will post $6.02 EPS for the current fiscal year.

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A number of research firms recently weighed in on PKG. Barclays PLC reduced their price objective on shares of Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a research note on Monday, May 1st. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company lowered shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research note on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Packaging Corporation of America from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $102.73.

About Packaging Corporation of America

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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