First Quadrant L P CA Sells 71,483 Shares of Packaging Corp Of America (PKG)

First Quadrant L P CA lowered its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 79.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,100 shares of the industrial products company’s stock after selling 71,483 shares during the quarter. First Quadrant L P CA’s holdings in Packaging Corp Of America were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Aviva PLC raised its holdings in shares of Packaging Corp Of America by 1.0% during the 2nd quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock valued at $5,244,000 after purchasing an additional 460 shares in the last quarter. ING Groep NV raised its holdings in Packaging Corp Of America by 4.8% in the 2nd quarter. ING Groep NV now owns 10,102 shares of the industrial products company’s stock worth $1,129,000 after acquiring an additional 461 shares during the period. Bailard Inc. raised its holdings in Packaging Corp Of America by 1.7% in the 2nd quarter. Bailard Inc. now owns 28,506 shares of the industrial products company’s stock worth $3,187,000 after acquiring an additional 472 shares during the period. Suntrust Banks Inc. raised its holdings in Packaging Corp Of America by 14.9% in the 1st quarter. Suntrust Banks Inc. now owns 3,772 shares of the industrial products company’s stock worth $424,000 after acquiring an additional 490 shares during the period. Finally, Carnick & Kubik Group LLC raised its holdings in Packaging Corp Of America by 4.8% in the 2nd quarter. Carnick & Kubik Group LLC now owns 10,878 shares of the industrial products company’s stock worth $1,216,000 after acquiring an additional 494 shares during the period. Institutional investors and hedge funds own 87.21% of the company’s stock.

NYSE PKG opened at $90.39 on Friday. The company has a current ratio of 2.73, a quick ratio of 1.67 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $8.41 billion, a price-to-earnings ratio of 15.01, a P/E/G ratio of 1.35 and a beta of 1.77. Packaging Corp Of America has a 52-week low of $83.54 and a 52-week high of $131.13.



Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.08. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.76 billion. Packaging Corp Of America had a net margin of 11.54% and a return on equity of 30.77%. Research analysts forecast that Packaging Corp Of America will post 7.91 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 14th were given a $0.79 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $3.16 annualized dividend and a yield of 3.50%. Packaging Corp Of America’s dividend payout ratio is 52.49%.

Several research analysts recently commented on the stock. ValuEngine downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Argus dropped their target price on shares of Packaging Corp Of America from $130.00 to $105.00 and set a “buy” rating on the stock in a report on Friday. Citigroup dropped their target price on shares of Packaging Corp Of America from $124.00 to $98.00 and set a “neutral” rating on the stock in a report on Thursday, October 11th. BMO Capital Markets downgraded shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $130.00 to $108.00 in a report on Tuesday, October 9th. Finally, Barclays dropped their target price on shares of Packaging Corp Of America from $125.00 to $120.00 and set an “equal weight” rating on the stock in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Packaging Corp Of America presently has a consensus rating of “Hold” and a consensus price target of $119.10.

Packaging Corp Of America Company Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products.

Read More: Compound Annual Growth Rate (CAGR)

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

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