Packaging Corp Of America (PKG) Shares Bought by American International Group Inc.

American International Group Inc. raised its holdings in Packaging Corp Of America (NYSE:PKG) by 36.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,512 shares of the industrial products company’s stock after purchasing an additional 11,730 shares during the quarter. American International Group Inc.’s holdings in Packaging Corp Of America were worth $4,773,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PKG. Acadian Asset Management LLC purchased a new stake in Packaging Corp Of America in the second quarter valued at $155,000. Aperio Group LLC raised its position in Packaging Corp Of America by 10.2% in the second quarter. Aperio Group LLC now owns 29,585 shares of the industrial products company’s stock valued at $3,307,000 after purchasing an additional 2,746 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Packaging Corp Of America by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 310,044 shares of the industrial products company’s stock valued at $34,660,000 after purchasing an additional 20,002 shares during the period. Aviva PLC raised its position in Packaging Corp Of America by 1.0% in the second 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 during the period. Finally, Alps Advisors Inc. raised its position in Packaging Corp Of America by 136.2% in the second quarter. Alps Advisors Inc. now owns 9,444 shares of the industrial products company’s stock valued at $1,056,000 after purchasing an additional 5,445 shares during the period. Institutional investors own 86.65% of the company’s stock.

Shares of NYSE PKG opened at $92.95 on Friday. Packaging Corp Of America has a twelve month low of $83.54 and a twelve month high of $131.13. The company has a quick ratio of 1.74, a current ratio of 2.76 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $9.07 billion, a PE ratio of 15.44, a PEG ratio of 1.43 and a beta of 1.85.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. As a group, research analysts anticipate that Packaging Corp Of America will post 8.03 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be paid a $0.79 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.40%. Packaging Corp Of America’s payout ratio is presently 52.49%.

A number of equities research analysts have commented on the company. Zacks Investment Research downgraded Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. BMO Capital Markets downgraded Packaging Corp Of America from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $130.00 to $108.00 in a research report on Tuesday, October 9th. Deutsche Bank set a $120.00 target price on Packaging Corp Of America and gave the company a “hold” rating in a research report on Monday, October 29th. Finally, Wells Fargo & Co reduced their target price on Packaging Corp Of America from $140.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. Packaging Corp Of America presently has an average rating of “Hold” and an average target price of $116.91.

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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.

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

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