Dynamic Technology Lab Private Ltd lowered its stake in shares of Packaging Corp Of America (NYSE:PKG) by 48.4% in the second quarter, Holdings Channel reports. The fund owned 15,869 shares of the industrial products company’s stock after selling 14,896 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Packaging Corp Of America were worth $1,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its position in Packaging Corp Of America by 3.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,634,214 shares of the industrial products company’s stock worth $182,689,000 after purchasing an additional 54,599 shares in the last quarter. British Airways Pensions Investment Management Ltd acquired a new stake in Packaging Corp Of America during the 2nd quarter worth approximately $14,384,000. Nisa Investment Advisors LLC increased its position in Packaging Corp Of America by 8.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 40,325 shares of the industrial products company’s stock worth $4,508,000 after purchasing an additional 3,200 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Packaging Corp Of America by 0.9% during the 2nd quarter. Daiwa Securities Group Inc. now owns 60,038 shares of the industrial products company’s stock worth $6,712,000 after purchasing an additional 559 shares in the last quarter. Finally, DnB Asset Management AS increased its position in Packaging Corp Of America by 6.3% during the 2nd quarter. DnB Asset Management AS now owns 11,900 shares of the industrial products company’s stock worth $1,330,000 after purchasing an additional 700 shares in the last quarter. 87.12% of the stock is owned by institutional investors.

PKG has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Tuesday, June 26th. ValuEngine downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Stephens reissued a “buy” rating on shares of Packaging Corp Of America in a research report on Thursday, July 5th. Citigroup dropped their target price on shares of Packaging Corp Of America from $128.00 to $121.00 and set a “neutral” rating for the company in a research report on Tuesday, July 10th. Finally, Wells Fargo & Co dropped their target price on shares of Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating for the company in a research report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $130.22.

NYSE PKG opened at $111.91 on Friday. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.69 and a beta of 1.78. Packaging Corp Of America has a fifty-two week low of $107.39 and a fifty-two week high of $131.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 2.73 and a quick ratio of 1.67.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Wednesday, July 25th. The industrial products company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.11. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Packaging Corp Of America had a return on equity of 28.48% and a net margin of 10.83%. Packaging Corp Of America’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. sell-side analysts forecast that Packaging Corp Of America will post 7.9 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 14th will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Thursday, September 13th. Packaging Corp Of America’s dividend payout ratio is presently 52.49%.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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