Dorsey Wright & Associates acquired a new position in Packaging Corporation of America (NYSE:PKG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,109 shares of the industrial products company’s stock, valued at approximately $1,847,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in Packaging Corporation of America by 2.0% in the 3rd quarter. New York State Common Retirement Fund now owns 257,056 shares of the industrial products company’s stock worth $29,479,000 after buying an additional 5,101 shares during the period. CIBC Asset Management Inc boosted its holdings in Packaging Corporation of America by 185.2% in the 3rd quarter. CIBC Asset Management Inc now owns 8,833 shares of the industrial products company’s stock worth $1,013,000 after buying an additional 5,736 shares during the period. First Eagle Investment Management LLC boosted its holdings in Packaging Corporation of America by 17.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock worth $240,839,000 after buying an additional 319,452 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new position in Packaging Corporation of America in the 3rd quarter worth approximately $3,028,000. Finally, Sei Investments Co. boosted its holdings in Packaging Corporation of America by 30.4% in the 3rd quarter. Sei Investments Co. now owns 104,617 shares of the industrial products company’s stock worth $11,998,000 after buying an additional 24,364 shares during the period. 88.02% of the stock is owned by institutional investors.

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Packaging Corporation of America (NYSE:PKG) traded up $2.09 during trading on Tuesday, hitting $112.36. 1,086,500 shares of the stock traded hands, compared to its average volume of 906,605. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. The stock has a market cap of $10,404.03, a PE ratio of 19.35, a P/E/G ratio of 2.21 and a beta of 1.82. Packaging Corporation of America has a 12-month low of $83.14 and a 12-month high of $120.75.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. equities research analysts forecast that Packaging Corporation of America will post 5.99 EPS for the current year.

PKG has been the subject of several analyst reports. Deutsche Bank AG reissued a “hold” rating and issued a $120.00 price target (up from $94.00) on shares of Packaging Corporation of America in a report on Monday, October 9th. BidaskClub downgraded shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Stephens initiated coverage on shares of Packaging Corporation of America in a report on Tuesday, October 24th. They issued an “overweight” rating and a $130.00 price target for the company. BMO Capital Markets reissued an “outperform” rating and issued a $122.00 price target (up from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. Finally, Barclays PLC raised their price target on shares of Packaging Corporation of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Packaging Corporation of America currently has an average rating of “Hold” and an average target price of $117.36.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the sale, the vice president now owns 155,071 shares in the company, valued at approximately $18,289,073.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jason Wayne Moreau acquired 1,326,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were bought at an average price of $0.06 per share, for a total transaction of $79,560.00. In the last 90 days, insiders have sold 18,177 shares of company stock worth $2,127,472. Corporate insiders own 1.20% of the company’s stock.

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.

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

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