Parametric Portfolio Associates LLC lifted its holdings in Packaging Corporation of America (NYSE:PKG) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 250,329 shares of the industrial products company’s stock after purchasing an additional 16,542 shares during the quarter. Parametric Portfolio Associates LLC owned 0.27% of Packaging Corporation of America worth $27,884,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Packaging Corporation of America by 4.7% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 227,694 shares of the industrial products company’s stock valued at $25,363,000 after acquiring an additional 10,141 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Packaging Corporation of America by 2.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 293,576 shares of the industrial products company’s stock valued at $32,701,000 after acquiring an additional 7,705 shares during the period. Principal Financial Group Inc. increased its stake in shares of Packaging Corporation of America by 34.7% during the second quarter. Principal Financial Group Inc. now owns 1,298,086 shares of the industrial products company’s stock valued at $144,594,000 after acquiring an additional 334,701 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in shares of Packaging Corporation of America during the second quarter valued at approximately $486,000. Finally, AXA increased its stake in shares of Packaging Corporation of America by 77.8% during the second quarter. AXA now owns 254,400 shares of the industrial products company’s stock valued at $28,338,000 after acquiring an additional 111,300 shares during the period. 88.18% of the stock is owned by institutional investors.

Several equities research analysts recently commented on PKG shares. BMO Capital Markets boosted their target price on Packaging Corporation of America from $104.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, June 30th. KeyCorp initiated coverage on Packaging Corporation of America in a research note on Thursday, July 6th. They set a “sector weight” rating for the company. Wells Fargo & Company cut Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a research report on Monday, July 10th. 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, Goldman Sachs Group, Inc. (The) raised Packaging Corporation of America from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $107.90.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America 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 completion of the sale, the vice president now owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is currently owned by company insiders.

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Packaging Corporation of America (NYSE:PKG) opened at 114.68 on Monday. The firm has a market capitalization of $10.74 billion, a PE ratio of 22.10 and a beta of 1.83. The company has a 50 day moving average price of $111.39 and a 200-day moving average price of $103.63. Packaging Corporation of America has a one year low of $78.03 and a one year high of $119.43.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The business had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. Packaging Corporation of America’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, equities analysts predict that Packaging Corporation of America will post $6.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.20%. Packaging Corporation of America’s payout ratio is presently 48.56%.

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)

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