Segantii Capital Management Ltd purchased a new position in Packaging Corporation of America (NYSE:PKG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,600 shares of the industrial products company’s stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in shares of Packaging Corporation of America during the fourth quarter worth $248,000. Teachers Advisors LLC raised its position in shares of Packaging Corporation of America by 12.2% in the fourth quarter. Teachers Advisors LLC now owns 229,730 shares of the industrial products company’s stock worth $19,486,000 after buying an additional 24,916 shares in the last quarter. Creative Planning raised its position in shares of Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock worth $143,000 after buying an additional 484 shares in the last quarter. Gulf International Bank UK Ltd raised its position in shares of Packaging Corporation of America by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 30,320 shares of the industrial products company’s stock worth $2,777,000 after buying an additional 400 shares in the last quarter. Finally, Highland Capital Management LLC raised its position in shares of Packaging Corporation of America by 5.4% in the first quarter. Highland Capital Management LLC now owns 2,901 shares of the industrial products company’s stock worth $266,000 after buying an additional 148 shares in the last quarter. 88.25% of the stock is currently owned by institutional investors.

Packaging Corporation of America (PKG) opened at 109.17 on Thursday. The stock has a market capitalization of $10.22 billion, a price-to-earnings ratio of 21.03 and a beta of 1.86. Packaging Corporation of America has a 52-week low of $74.95 and a 52-week high of $114.31. The firm has a 50-day moving average price of $110.58 and a 200 day moving average price of $99.93.

Packaging Corporation of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $1.56 billion. During the same quarter in the previous year, the business earned $1.25 EPS. Packaging Corporation of America’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts predict that Packaging Corporation of America will post $6.00 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, June 15th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Tuesday, June 13th. Packaging Corporation of America’s payout ratio is presently 48.56%.

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PKG has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $107.00 price target on shares of Packaging Corporation of America in a research note on Wednesday, April 12th. Citigroup Inc. increased their price target on Packaging Corporation of America from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, April 14th. Deutsche Bank AG increased their price target on Packaging Corporation of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. BMO Capital Markets reissued a “buy” rating and set a $104.00 price target (up previously from $100.00) on shares of Packaging Corporation of America in a research note on Monday, May 1st. Finally, Barclays PLC reduced their price target on Packaging Corporation of America from $100.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Monday, May 1st. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $102.73.

About Packaging Corporation of America

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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