Wedge Capital Management L L P NC decreased its position in Packaging Corporation of America (NYSE:PKG) by 23.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 920,423 shares of the industrial products company’s stock after selling 275,101 shares during the quarter. Packaging Corporation of America comprises about 1.0% of Wedge Capital Management L L P NC’s holdings, making the stock its 24th largest position. Wedge Capital Management L L P NC owned 0.98% of Packaging Corporation of America worth $105,554,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Teachers Advisors LLC increased its stake in shares of Packaging Corporation of America by 2.2% during the 1st quarter. Teachers Advisors LLC now owns 234,871 shares of the industrial products company’s stock valued at $21,519,000 after acquiring an additional 5,141 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Packaging Corporation of America during the 1st quarter valued at about $207,000. Driehaus Capital Management LLC increased its stake in shares of Packaging Corporation of America by 21.8% during the 1st quarter. Driehaus Capital Management LLC now owns 4,114 shares of the industrial products company’s stock valued at $377,000 after acquiring an additional 736 shares during the last quarter. Capstone Asset Management Co. increased its stake in shares of Packaging Corporation of America by 1.8% during the 2nd quarter. Capstone Asset Management Co. now owns 11,388 shares of the industrial products company’s stock valued at $1,269,000 after acquiring an additional 200 shares during the last quarter. Finally, Atria Investments LLC acquired a new position in shares of Packaging Corporation of America during the 2nd quarter valued at about $200,000. 88.42% of the stock is owned by hedge funds and other institutional investors.

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 for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.30 EPS.

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. Packaging Corporation of America’s payout ratio is currently 46.67%.

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In other news, SVP Thomas W.H. Walton sold 6,027 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the sale, the senior vice president now owns 32,690 shares in the company, valued at $3,796,943.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Charles J. Carter sold 6,150 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $117.04, for a total value of $719,796.00. Following the sale, the senior vice president now owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,177 shares of company stock valued at $2,127,472. 1.20% of the stock is currently owned by corporate insiders.

A number of research analysts have recently commented on PKG shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $120.00 price objective (up previously from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. BidaskClub downgraded shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Stephens began coverage on shares of 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. BMO Capital Markets reiterated an “outperform” rating and set a $122.00 target price (up previously from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company cut Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Packaging Corporation of America has an average rating of “Hold” and an average price target of $117.36.

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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