Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 8.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 319,642 shares of the industrial products company’s stock after purchasing an additional 26,066 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.34% of Packaging Corp Of America worth $36,657,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of PKG. Toronto Dominion Bank raised its position in Packaging Corp Of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Packaging Corp Of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 665 shares in the last quarter. Creative Planning raised its position in Packaging Corp Of America by 7.9% during the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 123 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Packaging Corp Of America during the second quarter worth $201,000. Finally, CAPROCK Group Inc. acquired a new position in shares of Packaging Corp Of America during the second quarter worth $211,000. Institutional investors and hedge funds own 90.24% of the company’s stock.
Shares of Packaging Corp Of America (NYSE PKG) traded up $0.62 during mid-day trading on Thursday, hitting $117.96. 634,829 shares of the stock traded hands, compared to its average volume of 887,344. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45. Packaging Corp Of America has a 12 month low of $84.01 and a 12 month high of $120.75. The stock has a market cap of $11,110.71, a price-to-earnings ratio of 20.66, a P/E/G ratio of 2.36 and a beta of 1.81.
Packaging Corp 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 Thomson Reuters’ consensus estimate of $1.69 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. equities research analysts anticipate that Packaging Corp Of America will post 5.99 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on PKG shares. Stephens started coverage on shares of Packaging Corp Of America in a report on Tuesday, October 24th. They set an “overweight” rating and a $130.00 price target for the company. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Thursday, October 12th. Deutsche Bank reaffirmed a “hold” rating and set a $120.00 price target (up previously from $94.00) on shares of Packaging Corp Of America in a research report on Monday, October 9th. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research report on Wednesday, October 18th. Finally, Barclays upped their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $117.36.
In other news, Director Jason Wayne Moreau purchased 1,326,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was purchased at an average cost of $0.06 per share, with a total value of $79,560.00. Also, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the completion of the transaction, the vice president now directly owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,177 shares of company stock valued at $2,135,172. 1.20% of the stock is owned by insiders.
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Packaging Corp Of America Company 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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