Artemis Investment Management LLP reduced its stake in shares of Packaging Corporation of America (NYSE:PKG) by 1.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,800 shares of the industrial products company’s stock after selling 1,400 shares during the period. Artemis Investment Management LLP owned approximately 0.08% of Packaging Corporation of America worth $8,442,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Advisory Services Network LLC bought a new position in shares of Packaging Corporation of America during the first quarter valued at approximately $113,000. TrimTabs Asset Management LLC boosted its position in shares of Packaging Corporation of America by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 1,295 shares of the industrial products company’s stock valued at $119,000 after buying an additional 608 shares during the period. Creative Planning boosted its position in shares of Packaging Corporation of America by 44.9% in the first quarter. Creative Planning now owns 1,563 shares of the industrial products company’s stock valued at $143,000 after buying an additional 484 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in shares of Packaging Corporation of America by 12.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company’s stock valued at $197,000 after buying an additional 231 shares during the period. Finally, Atria Investments LLC acquired a new position in shares of Packaging Corporation of America during the second quarter valued at about $200,000. 88.59% of the stock is owned by institutional investors and hedge funds.

Shares of Packaging Corporation of America (PKG) opened at 113.45 on Friday. The firm has a 50-day moving average of $109.95 and a 200-day moving average of $101.87. Packaging Corporation of America has a 12-month low of $77.73 and a 12-month high of $114.31. The firm has a market capitalization of $10.62 billion, a PE ratio of 21.86 and a beta of 1.86.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.47 by $0.05. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Packaging Corporation of America had a net margin of 8.05% and a return on equity of 27.78%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. Equities analysts anticipate that Packaging Corporation of America will post $6.02 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s payout ratio is currently 48.56%.

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PKG has been the subject of several recent research reports. BMO Capital Markets restated a “buy” rating and issued a $118.00 price target on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC restated a “buy” rating and issued a $128.00 price target (up from $114.00) on shares of Packaging Corporation of America in a research report on Friday, July 14th. ValuEngine upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Vertical Research restated a “buy” rating and issued a $124.00 price target (up from $118.00) on shares of Packaging Corporation of America in a research report on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $104.83.

About Packaging Corporation of America

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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