Daiwa Securities Group Inc. lowered its stake in shares of Packaging Corporation of America (NYSE:PKG) by 15.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,950 shares of the industrial products company’s stock after selling 1,300 shares during the period. Daiwa Securities Group Inc.’s holdings in Packaging Corporation of America were worth $774,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PKG. Advisory Services Network LLC bought a new position in Packaging Corporation of America during the first quarter valued at $113,000. TrimTabs Asset Management LLC increased its position in Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after buying an additional 608 shares in the last quarter. Creative Planning increased its position in Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock valued at $143,000 after buying an additional 484 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its position in Packaging Corporation of America by 12.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company’s stock valued at $197,000 after buying an additional 231 shares in the last quarter. Finally, Atria Investments LLC bought a new position in Packaging Corporation of America during the second quarter valued at $200,000. 88.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Packaging Corporation of America (NYSE:PKG) opened at 107.52 on Friday. Packaging Corporation of America has a one year low of $74.95 and a one year high of $114.31. The stock has a market capitalization of $10.07 billion, a PE ratio of 20.72 and a beta of 1.86. The firm has a 50 day moving average price of $110.57 and a 200 day moving average price of $100.12.

Packaging Corporation of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.05. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. Packaging Corporation of America’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.25 EPS. Analysts predict that Packaging Corporation of America will post $6.00 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, June 15th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Tuesday, June 13th. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

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Several research firms have recently weighed in on PKG. BMO Capital Markets reissued a “buy” rating and set a $118.00 target price on shares of Packaging Corporation of America in a research report on Friday, August 4th. Jefferies Group LLC set a $114.00 target price on Packaging Corporation of America and gave the company a “buy” rating in a research report on Thursday, June 1st. ValuEngine downgraded Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp began coverage on Packaging Corporation of America in a research report on Thursday, July 6th. They set a “sector weight” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $102.73.

Packaging Corporation of America Company Profile

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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