Nationwide Fund Advisors trimmed its position in shares of Packaging Corporation of America (NYSE:PKG) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,377 shares of the industrial products company’s stock after selling 8,834 shares during the period. Nationwide Fund Advisors owned approximately 0.53% of Packaging Corporation of America worth $55,403,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor Partners LLC increased its stake in Packaging Corporation of America by 1.2% during the second quarter. Advisor Partners LLC now owns 3,170 shares of the industrial products company’s stock valued at $353,000 after acquiring an additional 39 shares during the period. Somerset Trust Co increased its stake in Packaging Corporation of America by 0.4% during the second quarter. Somerset Trust Co now owns 12,154 shares of the industrial products company’s stock valued at $1,353,000 after acquiring an additional 51 shares during the period. Capital Innovations LLC increased its stake in Packaging Corporation of America by 1.8% during the first quarter. Capital Innovations LLC now owns 3,479 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 60 shares during the period. Coldstream Capital Management Inc. increased its stake in Packaging Corporation of America by 3.8% during the first quarter. Coldstream Capital Management Inc. now owns 2,623 shares of the industrial products company’s stock valued at $240,000 after acquiring an additional 96 shares during the period. Finally, HighVista Strategies LLC increased its stake in Packaging Corporation of America by 2.6% during the first quarter. HighVista Strategies LLC now owns 3,900 shares of the industrial products company’s stock valued at $357,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 88.59% of the company’s stock.

Several brokerages recently issued reports on PKG. Jefferies Group LLC restated a “buy” rating and set a $128.00 price target (up from $114.00) on shares of Packaging Corporation of America in a research note on Friday, July 14th. Zacks Investment Research upgraded Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. BidaskClub lowered Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. KeyCorp began coverage on Packaging Corporation of America in a research note on Thursday, July 6th. They set a “sector weight” rating on the stock. Finally, Goldman Sachs Group, Inc. (The) upgraded Packaging Corporation of America from a “sell” rating to a “neutral” rating and boosted their price target for the company from $105.00 to $111.00 in a research note on Thursday, July 13th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Packaging Corporation of America has a consensus rating of “Hold” and a consensus price target of $107.90.

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

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Shares of Packaging Corporation of America (NYSE PKG) traded down 0.38% on Thursday, hitting $115.53. The stock had a trading volume of 138,705 shares. The firm has a market capitalization of $10.82 billion, a P/E ratio of 22.26 and a beta of 1.86. Packaging Corporation of America has a 12-month low of $78.03 and a 12-month high of $118.97. The company has a 50 day moving average of $110.41 and a 200-day moving average of $102.80.

Packaging Corporation of America (NYSE:PKG) last issued its 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. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Equities analysts predict that Packaging Corporation of America will post $6.02 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given 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 2.16%. Packaging Corporation of America’s dividend payout ratio is currently 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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