M&T Bank Corp Reduces Stock Position in Packaging Corp Of America (NYSE:PKG)

M&T Bank Corp lowered its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 0.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,195 shares of the industrial products company’s stock after selling 580 shares during the quarter. M&T Bank Corp owned 0.08% of Packaging Corp Of America worth $7,105,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Guggenheim Capital LLC raised its position in Packaging Corp Of America by 27.3% during the 4th quarter. Guggenheim Capital LLC now owns 51,686 shares of the industrial products company’s stock valued at $5,788,000 after purchasing an additional 11,100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Packaging Corp Of America by 11.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,792 shares of the industrial products company’s stock worth $1,009,000 after acquiring an additional 1,020 shares in the last quarter. Profund Advisors LLC bought a new position in shares of Packaging Corp Of America in the 4th quarter worth $211,000. Brinker Capital Inc. raised its position in shares of Packaging Corp Of America by 11.0% in the 4th quarter. Brinker Capital Inc. now owns 3,060 shares of the industrial products company’s stock worth $343,000 after acquiring an additional 303 shares in the last quarter. Finally, Pearl River Capital LLC bought a new position in shares of Packaging Corp Of America in the 4th quarter worth $229,000. Institutional investors own 89.12% of the company’s stock.

Packaging Corp Of America stock opened at $96.12 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.42 and a current ratio of 3.51. The business’s 50-day simple moving average is $100.01 and its two-hundred day simple moving average is $96.33. The company has a market cap of $9.12 billion, a PE ratio of 14.76, a PEG ratio of 3.68 and a beta of 1.26. Packaging Corp Of America has a fifty-two week low of $71.05 and a fifty-two week high of $114.78.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.62 billion. Packaging Corp Of America had a return on equity of 20.07% and a net margin of 7.65%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.04 EPS. As a group, analysts predict that Packaging Corp Of America will post 5.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.79 per share. The ex-dividend date was Friday, June 12th. This represents a $3.16 annualized dividend and a yield of 3.29%. Packaging Corp Of America’s payout ratio is presently 41.31%.

Several research analysts have recently commented on the company. Wells Fargo & Co reduced their price target on Packaging Corp Of America from $95.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, April 9th. BofA Securities raised Packaging Corp Of America from a “neutral” rating to a “buy” rating in a research report on Thursday, July 16th. Deutsche Bank reduced their price target on Packaging Corp Of America from $115.00 to $100.00 and set a “hold” rating for the company in a research report on Tuesday, May 26th. Argus upgraded Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Thursday, May 14th. Finally, KeyCorp dropped their target price on Packaging Corp Of America from $89.00 to $79.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $103.58.

Packaging Corp Of America 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.

Recommended Story: Options Trading – What is a Straddle?

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

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.