TD Asset Management Inc. boosted its stake in Packaging Corp Of America (NYSE:PKG) by 136.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,451 shares of the industrial products company’s stock after buying an additional 27,966 shares during the quarter. TD Asset Management Inc. owned approximately 0.05% of Packaging Corp Of America worth $5,556,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. purchased a new stake in Packaging Corp Of America in the 3rd quarter worth approximately $14,544,000. State Street Corp lifted its position in Packaging Corp Of America by 1.0% in the 2nd quarter. State Street Corp now owns 3,336,381 shares of the industrial products company’s stock worth $371,683,000 after buying an additional 31,624 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Packaging Corp Of America by 17.9% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,100,096 shares of the industrial products company’s stock worth $240,839,000 after buying an additional 319,452 shares in the last quarter. Morse Asset Management Inc lifted its position in Packaging Corp Of America by 20.3% in the 3rd quarter. Morse Asset Management Inc now owns 5,922 shares of the industrial products company’s stock worth $679,000 after buying an additional 1,000 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in Packaging Corp Of America by 23.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 565,067 shares of the industrial products company’s stock worth $62,943,000 after buying an additional 107,348 shares in the last quarter. Institutional investors own 90.24% of the company’s stock.

In other news, Director Jason Wayne Moreau bought 1,326,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were acquired at an average cost of $0.06 per share, for a total transaction 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 owns 155,071 shares in the company, valued at $18,289,073.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,177 shares of company stock worth $2,135,172. 1.20% of the stock is currently owned by company insiders.

Shares of Packaging Corp Of America (PKG) traded down $1.15 on Wednesday, hitting $117.76. 670,000 shares of the stock traded hands, compared to its average volume of 889,989. Packaging Corp Of America has a 52 week low of $84.01 and a 52 week high of $120.75. The firm has a market cap of $11,219.22, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81. 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 Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the company earned $1.30 EPS. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. research analysts anticipate that Packaging Corp Of America will post 5.99 EPS for the current year.

A number of equities research analysts have issued reports on the stock. Barclays increased their target price on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research report on Sunday, October 29th. Stephens assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 24th. They issued an “overweight” rating and a $130.00 target price for the company. Finally, Deutsche Bank restated 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 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’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $117.36.

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Packaging Corp 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.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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