Daiwa Securities Group Inc. Purchases 13,599 Shares of Packaging Corp Of America (NYSE:PKG)

Daiwa Securities Group Inc. raised its position in Packaging Corp Of America (NYSE:PKG) by 18.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,588 shares of the industrial products company’s stock after purchasing an additional 13,599 shares during the period. Daiwa Securities Group Inc. owned approximately 0.09% of Packaging Corp Of America worth $9,293,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of PKG. Nuveen Asset Management LLC increased its stake in Packaging Corp Of America by 92,222.0% in the second quarter. Nuveen Asset Management LLC now owns 2,152,948 shares of the industrial products company’s stock valued at $205,219,000 after purchasing an additional 2,150,616 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Packaging Corp Of America by 81.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,972,606 shares of the industrial products company’s stock worth $378,669,000 after acquiring an additional 1,788,655 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Packaging Corp Of America by 21.2% during the second quarter. JPMorgan Chase & Co. now owns 2,611,939 shares of the industrial products company’s stock worth $245,418,000 after acquiring an additional 456,865 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Packaging Corp Of America by 3.7% during the second quarter. Vanguard Group Inc. now owns 10,881,673 shares of the industrial products company’s stock worth $1,037,241,000 after acquiring an additional 389,241 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Packaging Corp Of America during the second quarter worth $17,262,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on PKG shares. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price objective for the company. in a research report on Monday, October 14th. Bank of America increased their price objective on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. ValuEngine downgraded shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 7th. Seaport Global Securities downgraded shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price objective for the company. in a research report on Friday, July 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co increased their price objective on shares of Packaging Corp Of America from $100.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Packaging Corp Of America has a consensus rating of “Hold” and a consensus target price of $105.45.

PKG traded up $0.95 during trading hours on Friday, hitting $113.90. 677,555 shares of the company’s stock were exchanged, compared to its average volume of 772,705. Packaging Corp Of America has a 1-year low of $77.90 and a 1-year high of $113.68. The stock’s 50-day moving average is $107.24 and its two-hundred day moving average is $100.44. The stock has a market cap of $10.72 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 2.95 and a beta of 1.69. The company has a quick ratio of 2.18, a current ratio of 3.28 and a debt-to-equity ratio of 0.88.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Packaging Corp Of America had a net margin of 10.94% and a return on equity of 26.92%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the prior year, the company posted $2.23 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that Packaging Corp Of America will post 7.67 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

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.

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

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