Public Employees Retirement Association of Colorado cut its stake in shares of Packaging Corporation of America (NYSE:PKG) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 20,431 shares of the industrial products company’s stock after selling 24 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Packaging Corporation of America were worth $2,276,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PKG. First Manhattan Co. raised its position in 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. Somerset Trust Co raised its position in 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 raised its position in 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. Advisor Partners LLC raised its position in Packaging Corporation of America by 2.1% in the first quarter. Advisor Partners LLC now owns 3,131 shares of the industrial products company’s stock valued at $287,000 after buying an additional 65 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. raised its position in 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. Institutional investors own 88.25% of the company’s stock.

Shares of Packaging Corporation of America (NYSE PKG) opened at 109.17 on Thursday. Packaging Corporation of America has a 52 week low of $74.95 and a 52 week high of $114.31. The stock has a market capitalization of $10.20 billion, a P/E ratio of 21.03 and a beta of 1.86. The company’s 50-day moving average is $110.58 and its 200 day moving average is $99.93.

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

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, June 15th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.52 dividend on an annualized basis and a yield of 2.31%. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

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Several equities analysts have weighed in on the stock. Deutsche Bank AG boosted their target price on shares of Packaging Corporation of America from $91.00 to $94.00 and gave the company a “hold” rating in a report on Tuesday, April 25th. Barclays PLC reduced their price target on shares of 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. ValuEngine downgraded shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Thursday, May 11th. Zacks Investment Research raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of 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 seven have issued a buy rating to the company. The company presently has an average 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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