Sumitomo Mitsui Asset Management Company LTD boosted its position in shares of Packaging Corporation of America (NYSE:PKG) by 9.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,322 shares of the industrial products company’s stock after buying an additional 618 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Packaging Corporation of America were worth $839,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PKG. Teachers Advisors LLC raised its holdings in 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 buying an additional 5,141 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Packaging Corporation of America during the 1st quarter valued at $207,000. Capstone Asset Management Co. raised its holdings in 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 buying an additional 200 shares during the last quarter. Atria Investments LLC bought a new stake in Packaging Corporation of America during the 2nd quarter valued at $200,000. Finally, CHURCHILL MANAGEMENT Corp raised its holdings in Packaging Corporation of America by 5.8% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 16,168 shares of the industrial products company’s stock valued at $1,801,000 after buying an additional 882 shares during the last quarter. Institutional investors own 88.34% of the company’s stock.

A number of equities research analysts recently commented on PKG shares. Deutsche Bank AG reiterated a “hold” rating and set a $120.00 price target (up from $94.00) on shares of Packaging Corporation of America in a report on Monday, October 9th. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Stephens started coverage on shares of Packaging Corporation of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target for the company. BMO Capital Markets reiterated an “outperform” rating and set a $122.00 price target (up from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. Finally, Wells Fargo & Company lowered shares of Packaging Corporation of America from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $117.36.

Shares of Packaging Corporation of America (NYSE:PKG) opened at $110.96 on Tuesday. The stock has a market capitalization of $10,920.13, a price-to-earnings ratio of 20.31, a PEG ratio of 2.32 and a beta of 1.82. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45.

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 the Zacks’ consensus estimate of $1.69 by ($0.01). The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.30 earnings per share. analysts predict that Packaging Corporation of America will post 5.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 15th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio is presently 46.67%.

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In other news, SVP Thomas W.H. Walton sold 6,027 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Charles J. Carter sold 6,150 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the sale, the senior vice president now directly owns 24,265 shares in the company, valued at $2,839,975.60. The disclosure for this sale can be found here. Insiders sold a total of 18,177 shares of company stock worth $2,127,472 over the last ninety days. Insiders own 1.20% of the company’s stock.

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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