Qube Research & Technologies Ltd acquired a new stake in shares of Packaging Corp Of America (NYSE:PKG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 1,972 shares of the industrial products company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake 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 valued at $182,689,000 after acquiring an additional 54,599 shares in the last quarter. British Airways Pensions Investment Management Ltd purchased a new stake in Packaging Corp Of America during the 2nd quarter valued at about $14,384,000. Nisa Investment Advisors LLC boosted its holdings in Packaging Corp Of America by 8.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 40,325 shares of the industrial products company’s stock valued at $4,508,000 after purchasing an additional 3,200 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in Packaging Corp Of America by 0.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 60,038 shares of the industrial products company’s stock valued at $6,712,000 after purchasing an additional 559 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Packaging Corp Of America by 130.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 32,492 shares of the industrial products company’s stock valued at $3,632,000 after purchasing an additional 18,418 shares during the last quarter. 87.15% of the stock is owned by institutional investors.

NYSE:PKG opened at $114.46 on Monday. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.71 and a beta of 1.78. Packaging Corp Of America has a 1-year low of $107.39 and a 1-year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 25th. The industrial products company reported $2.08 EPS for the quarter, topping the consensus estimate of $1.97 by $0.11. Packaging Corp Of America had a net margin of 10.83% and a return on equity of 28.48%. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $1.52 EPS. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. equities analysts expect that Packaging Corp Of America will post 7.9 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.76%. Packaging Corp Of America’s dividend payout ratio is currently 52.49%.

PKG has been the topic of several recent analyst reports. Stephens reiterated a “buy” rating on shares of Packaging Corp Of America in a report on Thursday, July 5th. Zacks Investment Research upgraded shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a report on Tuesday, June 26th. Barclays decreased their target price on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 30th. ValuEngine upgraded shares of Packaging Corp Of America from a “sell” rating to a “hold” rating in a report on Monday, August 20th. Finally, Wells Fargo & Co decreased their target price on shares of Packaging Corp Of America from $150.00 to $140.00 and set a “market perform” rating on the stock in a report on Friday, July 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Packaging Corp Of America currently has an average rating of “Hold” and an average price target of $130.22.

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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