Ropes Wealth Advisors LLC raised its holdings in Packaging Corporation of America (NYSE:PKG) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,969 shares of the industrial products company’s stock after acquiring an additional 69 shares during the period. Ropes Wealth Advisors LLC’s holdings in Packaging Corporation of America were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PKG. Northwestern Mutual Wealth Management Co. grew its stake in Packaging Corporation of America by 84.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after acquiring an additional 665 shares during the period. Creative Planning grew its stake in Packaging Corporation of America by 7.9% in the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 123 shares during the period. Bronfman E.L. Rothschild L.P. grew its stake 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 acquiring an additional 231 shares during the period. Atria Investments LLC acquired a new position in Packaging Corporation of America in the second quarter valued at about $200,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Packaging Corporation of America in the first quarter valued at about $207,000. 88.18% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares in the company, valued at approximately $18,289,073.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.20% of the company’s stock.

Packaging Corporation of America (PKG) traded down 2.29% on Monday, hitting $113.55. The stock had a trading volume of 150,944 shares. Packaging Corporation of America has a 52 week low of $78.03 and a 52 week high of $119.43. The company has a 50-day moving average price of $111.39 and a 200-day moving average price of $103.63. The stock has a market capitalization of $10.63 billion, a price-to-earnings ratio of 21.88 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ 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%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the business posted $1.25 EPS. Equities research analysts anticipate that Packaging Corporation of America will post $6.02 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a $0.63 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.52 annualized dividend and a dividend yield of 2.17%. Packaging Corporation of America’s dividend payout ratio is presently 48.56%.

TRADEMARK VIOLATION WARNING: “Packaging Corporation of America (PKG) Shares Bought by Ropes Wealth Advisors LLC” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.watchlistnews.com/packaging-corporation-of-america-pkg-shares-bought-by-ropes-wealth-advisors-llc/1587036.html.

A number of research firms have issued reports on PKG. Jefferies Group LLC reissued a “buy” rating and issued a $128.00 target price on shares of Packaging Corporation of America in a research note on Friday, August 18th. ValuEngine raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BMO Capital Markets reissued an “outperform” rating and issued a $122.00 target price (up from $118.00) on shares of Packaging Corporation of America in a research note on Tuesday, August 22nd. Zacks Investment Research raised Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $107.90.

Packaging Corporation of America 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)

Receive News & Ratings for Packaging Corporation of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corporation of America and related companies with Analyst Ratings Network's FREE daily email newsletter.