Packaging Corp Of America (NYSE:PKG) Shares Bought by Parallel Advisors LLC

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Parallel Advisors LLC boosted its position in shares of Packaging Corp Of America (NYSE:PKG) by 774.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 271 shares of the industrial products company’s stock after acquiring an additional 240 shares during the quarter. Parallel Advisors LLC’s holdings in Packaging Corp Of America were worth $26,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. CENTRAL TRUST Co raised its stake in shares of Packaging Corp Of America by 3.2% during the 2nd quarter. CENTRAL TRUST Co now owns 3,280 shares of the industrial products company’s stock valued at $325,000 after buying an additional 102 shares during the last quarter. KCS Wealth Advisory boosted its holdings in shares of Packaging Corp Of America by 2.6% during the 1st quarter. KCS Wealth Advisory now owns 4,120 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 106 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Packaging Corp Of America by 1.8% during the 1st quarter. Crossmark Global Holdings Inc. now owns 5,993 shares of the industrial products company’s stock worth $596,000 after purchasing an additional 108 shares during the last quarter. Securian Asset Management Inc boosted its holdings in shares of Packaging Corp Of America by 1.2% during the 2nd quarter. Securian Asset Management Inc now owns 9,721 shares of the industrial products company’s stock worth $927,000 after purchasing an additional 115 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Packaging Corp Of America by 0.8% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 14,360 shares of the industrial products company’s stock worth $1,427,000 after purchasing an additional 119 shares during the last quarter. 86.08% of the stock is owned by institutional investors.

Several brokerages have recently weighed in on PKG. ValuEngine upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Seaport Global Securities cut Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 target price on the stock. in a report on Friday, July 12th. They noted that the move was a valuation call. UBS Group set a $106.00 target price on Packaging Corp Of America and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, KeyCorp cut Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 target price on the stock. in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $100.09.

PKG traded down $0.43 during trading hours on Wednesday, reaching $97.23. The company’s stock had a trading volume of 73,049 shares, compared to its average volume of 851,840. Packaging Corp Of America has a fifty-two week low of $77.90 and a fifty-two week high of $118.88. The stock has a market cap of $9.29 billion, a PE ratio of 12.11, a P/E/G ratio of 2.55 and a beta of 1.71. The business’s 50-day moving average is $100.31 and its 200-day moving average is $97.84. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.29 and a quick ratio of 2.18.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $2.04 EPS for the quarter, meeting analysts’ consensus estimates of $2.04. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Packaging Corp Of America had a return on equity of 29.23% and a net margin of 11.23%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. Analysts expect that Packaging Corp Of America will post 7.7 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

In other news, SVP Donald R. Shirley sold 5,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $101.48, for a total transaction of $507,400.00. Following the sale, the senior vice president now owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Thomas W.H. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total value of $601,020.00. Following the sale, the senior vice president now directly owns 34,118 shares in the company, valued at approximately $3,417,600.06. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

About Packaging Corp Of America

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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