Public Employees Retirement System of Ohio Sells 1,311 Shares of Packaging Corp Of America (NYSE:PKG)

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Public Employees Retirement System of Ohio lowered its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 4.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,485 shares of the industrial products company’s stock after selling 1,311 shares during the period. Public Employees Retirement System of Ohio’s holdings in Packaging Corp Of America were worth $3,001,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Pacer Advisors Inc. lifted its stake in shares of Packaging Corp Of America by 4.0% in the second quarter. Pacer Advisors Inc. now owns 8,914 shares of the industrial products company’s stock worth $850,000 after buying an additional 345 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Packaging Corp Of America in the second quarter worth approximately $17,262,000. Quantamental Technologies LLC bought a new position in shares of Packaging Corp Of America in the second quarter worth approximately $251,000. M&T Bank Corp lifted its stake in shares of Packaging Corp Of America by 1.2% in the second quarter. M&T Bank Corp now owns 77,366 shares of the industrial products company’s stock worth $7,375,000 after buying an additional 904 shares in the last quarter. Finally, First Mercantile Trust Co. bought a new position in shares of Packaging Corp Of America in the second quarter worth approximately $40,000. 88.05% of the stock is currently owned by institutional investors and hedge funds.

Shares of PKG traded down $2.22 during mid-day trading on Monday, hitting $106.15. 18,033 shares of the company traded hands, compared to its average volume of 700,671. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.18 and a current ratio of 3.29. The stock has a 50-day moving average price of $100.94 and a two-hundred day moving average price of $98.15. Packaging Corp Of America has a 1 year low of $77.90 and a 1 year high of $118.88. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of 13.20, a P/E/G ratio of 2.78 and a beta of 1.71.

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

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.79 per share. The ex-dividend date is Thursday, September 12th. This represents a $3.16 dividend on an annualized basis and a yield of 2.98%. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

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

In other Packaging Corp Of America news, SVP Donald R. Shirley sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the completion of the sale, the senior vice president now directly owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Thomas W.H. Walton sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total transaction of $601,020.00. Following the sale, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at $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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