Advisors Asset Management Inc. Acquires 489 Shares of Packaging Corporation of America (PKG)

Advisors Asset Management Inc. boosted its holdings in Packaging Corporation of America (NYSE:PKG) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,195 shares of the industrial products company’s stock after buying an additional 489 shares during the quarter. Advisors Asset Management Inc.’s holdings in Packaging Corporation of America were worth $2,431,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Toronto Dominion Bank grew its position in Packaging Corporation of America by 12.4% during the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 128 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Packaging Corporation of America by 84.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 665 shares in the last quarter. Creative Planning grew its position in Packaging Corporation of America by 7.9% during the 2nd quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock worth $188,000 after purchasing an additional 123 shares in the last quarter. Perpetual Ltd purchased a new position in Packaging Corporation of America during the 2nd quarter worth approximately $201,000. Finally, CAPROCK Group Inc. purchased a new position in Packaging Corporation of America during the 2nd quarter worth approximately $211,000. Hedge funds and other institutional investors own 87.99% of the company’s stock.

Shares of Packaging Corporation of America (PKG) traded down $0.57 during trading hours on Friday, hitting $111.47. 177,969 shares of the company’s stock were exchanged, compared to its average volume of 743,662. The firm has a market cap of $10,520.00, a price-to-earnings ratio of 19.56, a P/E/G ratio of 2.23 and a beta of 1.82. Packaging Corporation of America has a 52 week low of $84.01 and a 52 week high of $120.75. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30.

Packaging Corporation of America (NYSE:PKG) last issued its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.64 billion. Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The company’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. sell-side analysts expect that Packaging Corporation of America will post 5.99 earnings per share for the current year.

In other Packaging Corporation of America news, SVP Thomas W.H. Walton sold 6,027 shares of Packaging Corporation of America stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $116.15, for a total transaction of $700,036.05. Following the completion of the sale, the senior vice president now owns 32,690 shares of the company’s stock, valued at approximately $3,796,943.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas A. Hassfurther sold 6,000 shares of Packaging Corporation of America stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the sale, the vice president now directly owns 155,071 shares of the company’s stock, valued at approximately $18,289,073.74. The disclosure for this sale can be found here. Insiders have sold a total of 63,177 shares of company stock valued at $2,133,172 in the last three months. Company insiders own 1.20% of the company’s stock.

Several equities analysts have weighed in on the stock. BMO Capital Markets reiterated a “buy” rating and set a $118.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 4th. BidaskClub upgraded shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp reiterated a “hold” rating on shares of Packaging Corporation of America in a research report on Wednesday, October 18th. Zacks Investment Research cut shares of Packaging Corporation of America from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $128.00 price objective on shares of Packaging Corporation of America in a research report on Friday, August 18th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $117.36.

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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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