Mn Services Vermogensbeheer B.V. Purchases 12,784 Shares of Packaging Corporation of America (NYSE:PKG)

Mn Services Vermogensbeheer B.V. boosted its position in Packaging Corporation of America (NYSE:PKG) by 508.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,297 shares of the industrial products company’s stock after buying an additional 12,784 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Packaging Corporation of America were worth $1,704,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PKG. BlackRock Inc. increased its stake in Packaging Corporation of America by 8,719.3% in the first quarter. BlackRock Inc. now owns 13,344,341 shares of the industrial products company’s stock worth $1,222,607,000 after buying an additional 13,193,032 shares during the period. Iridian Asset Management LLC CT increased its stake in Packaging Corporation of America by 2,657.5% in the first quarter. Iridian Asset Management LLC CT now owns 1,378,725 shares of the industrial products company’s stock worth $126,319,000 after buying an additional 1,328,725 shares during the period. Vanguard Group Inc. increased its stake in Packaging Corporation of America by 5.7% in the first quarter. Vanguard Group Inc. now owns 8,238,908 shares of the industrial products company’s stock worth $754,848,000 after buying an additional 445,345 shares during the period. Point72 Asset Management L.P. purchased a new stake in Packaging Corporation of America during the first quarter worth $35,656,000. Finally, Bank of New York Mellon Corp increased its stake in Packaging Corporation of America by 8.6% in the first quarter. Bank of New York Mellon Corp now owns 4,035,040 shares of the industrial products company’s stock worth $369,689,000 after buying an additional 318,194 shares during the period. 88.29% of the stock is owned by institutional investors.

Packaging Corporation of America (NYSE PKG) opened at 109.46 on Friday. The company has a market cap of $10.23 billion, a P/E ratio of 22.33 and a beta of 1.88. Packaging Corporation of America has a 52-week low of $73.34 and a 52-week high of $114.31. The company’s 50 day moving average price is $108.87 and its 200 day moving average price is $97.71.

Packaging Corporation of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.03. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.48 billion. Packaging Corporation of America had a return on equity of 27.29% and a net margin of 7.81%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 earnings per share. Equities research analysts anticipate that Packaging Corporation of America will post $5.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Thursday, June 15th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Tuesday, June 13th. Packaging Corporation of America’s dividend payout ratio is currently 51.43%.

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PKG has been the subject of a number of recent research reports. Citigroup Inc. raised their price target on Packaging Corporation of America from $106.00 to $112.00 and gave the stock a “neutral” rating in a research note on Friday, April 14th. BMO Capital Markets reaffirmed a “buy” rating and set a $104.00 price target (up from $100.00) on shares of Packaging Corporation of America in a research note on Monday, May 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $107.00 price target on shares of Packaging Corporation of America in a research note on Wednesday, April 12th. Deutsche Bank AG raised their price target on Packaging Corporation of America from $91.00 to $94.00 and gave the stock a “hold” rating in a research note on Tuesday, April 25th. Finally, ValuEngine raised Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Packaging Corporation of America has an average rating of “Buy” and an average price target of $102.73.

About Packaging Corporation of America

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.

Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

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