Packaging Corporation of America (PKG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in Packaging Corporation of America (NYSE:PKG) by 3.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,224 shares of the industrial products company’s stock after selling 1,501 shares during the period. Public Employees Retirement System of Ohio’s holdings in Packaging Corporation of America were worth $4,592,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PKG. Teachers Advisors LLC increased its stake in Packaging Corporation of America by 2.2% in the first quarter. Teachers Advisors LLC now owns 234,871 shares of the industrial products company’s stock valued at $21,519,000 after purchasing an additional 5,141 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in Packaging Corporation of America in the first quarter valued at approximately $207,000. Driehaus Capital Management LLC increased its position in shares of Packaging Corporation of America by 21.8% during the first quarter. Driehaus Capital Management LLC now owns 4,114 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 736 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Packaging Corporation of America by 1.8% during the second quarter. Capstone Asset Management Co. now owns 11,388 shares of the industrial products company’s stock worth $1,269,000 after acquiring an additional 200 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in shares of Packaging Corporation of America during the second quarter worth $200,000. 88.34% of the stock is owned by hedge funds and other institutional investors.

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PKG has been the subject of several research reports. Stephens assumed coverage on shares of Packaging Corporation of America in a research report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price objective for the company. BidaskClub downgraded shares of Packaging Corporation of America from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Thursday, October 12th. Deutsche Bank AG reiterated a “hold” rating and issued a $120.00 price target (up previously from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. Finally, KeyCorp reiterated a “hold” rating on shares of Packaging Corporation of America in a research note on Thursday, October 12th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $117.36.

In related news, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the transaction, the senior vice president now owns 32,690 shares in the company, valued at $3,796,943.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the transaction, the senior vice president now owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,177 shares of company stock valued at $2,127,472. Company insiders own 1.20% of the company’s stock.

Packaging Corporation of America (PKG) traded up $1.04 during trading hours on Friday, reaching $110.27. 913,600 shares of the company traded hands, compared to its average volume of 905,780. The firm has a market cap of $10,305.91, a P/E ratio of 19.16, a PEG ratio of 2.19 and a beta of 1.82. Packaging Corporation of America has a twelve month low of $81.55 and a twelve month high of $120.75. The company has a current ratio of 2.45, a quick ratio of 1.49 and a debt-to-equity ratio of 1.30.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Packaging Corporation of America had a return on equity of 29.38% and a net margin of 8.18%. The firm had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. equities analysts predict that Packaging Corporation of America will post 5.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were given a dividend of $0.63 per share. The ex-dividend date was Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.29%. Packaging Corporation of America’s payout ratio is presently 46.67%.

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.

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

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