Croft Leominster Inc. Holds Holdings in Packaging Corporation of America (PKG)

Croft Leominster Inc. continued to hold its position in shares of Packaging Corporation of America (NYSE:PKG) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,420 shares of the industrial products company’s stock at the close of the 2nd quarter. Croft Leominster Inc.’s holdings in Packaging Corporation of America were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Packaging Corporation of America by 9.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 9,613 shares of the industrial products company’s stock worth $1,071,000 after buying an additional 792 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Packaging Corporation of America by 7.7% during the second quarter. Coldstream Capital Management Inc. now owns 2,824 shares of the industrial products company’s stock worth $315,000 after buying an additional 201 shares in the last quarter. Simmons Bank acquired a new stake in shares of Packaging Corporation of America during the second quarter worth approximately $211,000. Caxton Associates LP acquired a new stake in shares of Packaging Corporation of America during the second quarter worth approximately $590,000. Finally, State Street Corp increased its holdings in shares of Packaging Corporation of America by 1.0% during the second quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock worth $371,683,000 after buying an additional 31,624 shares in the last quarter. 88.18% of the stock is owned by institutional investors.

Packaging Corporation of America (PKG) traded down 0.09% during mid-day trading on Friday, hitting $115.40. 171,780 shares of the stock traded hands. Packaging Corporation of America has a one year low of $78.03 and a one year high of $119.43. The stock has a market capitalization of $10.81 billion, a PE ratio of 22.24 and a beta of 1.83. The company has a 50 day moving average price of $114.88 and a 200-day moving average price of $106.39.

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 (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.56 billion. During the same period in the prior year, the company posted $1.25 EPS. The company’s revenue was up 11.8% on a year-over-year basis. Equities analysts anticipate that Packaging Corporation of America will post $6.04 earnings per share for the current fiscal year.

The firm also recently declared 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. This represents a $2.52 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is currently 48.56%.

In other Packaging Corporation of America news, VP Thomas A. Hassfurther sold 6,000 shares of the company’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 completion of the transaction, the vice president now directly owns 155,071 shares in the company, valued at approximately $18,289,073.74. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Several analysts have recently weighed in on PKG shares. Deutsche Bank AG reaffirmed a “hold” rating and set a $120.00 price objective (up previously from $94.00) on shares of Packaging Corporation of America in a report on Monday. BidaskClub lowered shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $122.00 price objective (up previously from $118.00) on shares of Packaging Corporation of America in a report on Tuesday, August 22nd. 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. Finally, Goldman Sachs Group, Inc. (The) raised shares of Packaging Corporation of America from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $105.00 to $111.00 in a report on Thursday, July 13th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $114.10.

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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.

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Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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