Keybank National Association OH bought a new position in shares of Packaging Corporation of America (NYSE:PKG) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,734 shares of the industrial products company’s stock, valued at approximately $314,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Southeast Asset Advisors Inc. raised its position in shares of Packaging Corporation of America by 0.3% during the second quarter. Southeast Asset Advisors Inc. now owns 4,560 shares of the industrial products company’s stock worth $508,000 after acquiring an additional 12 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Packaging Corporation of America by 1.5% during the second quarter. Van ECK Associates Corp now owns 2,302 shares of the industrial products company’s stock worth $256,000 after purchasing an additional 34 shares during the period. Advisor Partners LLC grew its stake in shares of Packaging Corporation of America by 1.2% during the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock worth $353,000 after purchasing an additional 39 shares during the period. Ropes Wealth Advisors LLC grew its stake in shares of Packaging Corporation of America by 1.8% during the second quarter. Ropes Wealth Advisors LLC now owns 3,969 shares of the industrial products company’s stock worth $442,000 after purchasing an additional 69 shares during the period. Finally, World Asset Management Inc grew its stake in shares of Packaging Corporation of America by 1.5% during the second quarter. World Asset Management Inc now owns 7,158 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 104 shares during the period. Institutional investors own 88.02% of the company’s stock.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was 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 $18,289,073.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas W.H. Walton sold 6,027 shares of the company’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total value of $700,036.05. Following the sale, the senior vice president now owns 32,690 shares in the company, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. Insiders have sold 43,177 shares of company stock worth $2,129,972 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Packaging Corporation of America (NYSE:PKG) opened at $112.47 on Friday. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $10,611.54, a PE ratio of 19.73, a PEG ratio of 2.25 and a beta of 1.82. Packaging Corporation of America has a 52-week low of $84.01 and a 52-week high of $120.75.

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

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A number of equities research analysts recently commented on the company. Barclays PLC lifted their price objective on Packaging Corporation of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, October 30th. Zacks Investment Research cut Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corporation of America in a research note on Sunday, October 29th. Stephens assumed coverage on Packaging Corporation of America in a research note on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price objective for the company. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $120.00 price objective (up from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Packaging Corporation of America currently has an average rating of “Hold” and an average target price of $117.36.

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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