Wedge Capital Management L L P NC decreased its stake in shares of Packaging Corporation of America (NYSE:PKG) by 4.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,195,524 shares of the industrial products company’s stock after selling 60,325 shares during the period. Packaging Corporation of America makes up about 1.3% of Wedge Capital Management L L P NC’s holdings, making the stock its 12th largest position. Wedge Capital Management L L P NC’s holdings in Packaging Corporation of America were worth $133,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. First Manhattan Co. increased its stake in shares of Packaging Corporation of America by 0.4% in the first quarter. First Manhattan Co. now owns 5,550 shares of the industrial products company’s stock valued at $450,000 after buying an additional 21 shares during the last quarter. Advisor Partners LLC increased its stake in shares of Packaging Corporation of America by 1.2% in the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock valued at $353,000 after buying an additional 39 shares during the last quarter. Somerset Trust Co increased its stake in shares of Packaging Corporation of America by 0.4% in the second quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock valued at $1,353,000 after buying an additional 51 shares during the last quarter. Capital Innovations LLC increased its stake in shares of Packaging Corporation of America by 1.8% in the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock valued at $319,000 after buying an additional 60 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in shares of Packaging Corporation of America by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 2,513 shares of the industrial products company’s stock valued at $215,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 88.25% of the company’s stock.

Packaging Corporation of America (PKG) opened at 107.33 on Friday. Packaging Corporation of America has a one year low of $74.95 and a one year high of $114.31. The firm has a market capitalization of $10.05 billion, a PE ratio of 20.68 and a beta of 1.86. The stock has a 50 day moving average price of $110.57 and a 200-day moving average price of $99.98.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, June 15th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, June 13th. Packaging Corporation of America’s payout ratio is presently 48.56%.

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A number of analysts have commented on the company. Deutsche Bank AG raised their price objective on Packaging Corporation of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research report on Tuesday, April 25th. Barclays PLC reduced their price objective on Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. ValuEngine upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded Packaging Corporation of America from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Packaging Corporation of America presently has a consensus rating of “Buy” and a consensus 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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