Rhumbline Advisers cut its stake in Packaging Corporation of America (NYSE:PKG) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,700 shares of the industrial products company’s stock after selling 15,702 shares during the period. Rhumbline Advisers owned approximately 0.22% of Packaging Corporation of America worth $23,475,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PKG. Toronto Dominion Bank boosted its holdings in shares of Packaging Corporation of America by 12.4% in the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Packaging Corporation of America by 84.6% in 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 acquiring an additional 665 shares in the last quarter. Creative Planning lifted its stake in Packaging Corporation 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 during the last quarter. Perpetual Ltd acquired a new stake in Packaging Corporation of America during the second quarter valued at approximately $201,000. Finally, CAPROCK Group Inc. acquired a new stake in Packaging Corporation of America during the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Shares of Packaging Corporation of America (NYSE:PKG) opened at $112.47 on Monday. Packaging Corporation of America has a 12-month low of $84.01 and a 12-month high of $120.75. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.45 and a quick ratio of 1.49. The stock has a market cap of $10,610.00, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.25 and a beta of 1.82.

Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. equities analysts expect that Packaging Corporation of America will post 5.99 earnings per share for the current year.

Several research firms recently commented on PKG. Stephens began coverage on shares of Packaging Corporation of America in a research note on Tuesday, October 24th. They set an “overweight” rating and a $130.00 target price for the company. Barclays PLC increased their target price on shares of Packaging Corporation of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, October 30th. Zacks Investment Research lowered shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. KeyCorp reissued a “hold” rating on shares of Packaging Corporation of America in a research note on Sunday, October 29th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $120.00 target price (up from $94.00) on shares of Packaging Corporation of America in a research note on Monday, October 9th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $117.36.

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In other Packaging Corporation of America news, SVP Thomas W.H. Walton sold 6,027 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total value of $700,036.05. Following the completion of the sale, the senior vice president now owns 32,690 shares in the company, valued at approximately $3,796,943.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Charles J. Carter sold 6,150 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $117.04, for a total transaction of $719,796.00. Following the completion of the sale, 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 43,177 shares of company stock valued at $2,129,972. Insiders own 1.20% of the company’s stock.

Packaging Corporation 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.

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

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