Teachers Advisors LLC Has $26.30 Million Position in Packaging Corporation of America (PKG)

Teachers Advisors LLC increased its stake in shares of Packaging Corporation of America (NYSE:PKG) by 0.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 236,121 shares of the industrial products company’s stock after buying an additional 1,250 shares during the quarter. Teachers Advisors LLC owned about 0.25% of Packaging Corporation of America worth $26,302,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in PKG. BlackRock Inc. lifted its position in Packaging Corporation of America by 8,719.3% during 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 in the last quarter. Iridian Asset Management LLC CT lifted its position in Packaging Corporation of America by 2,657.5% during 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 in the last quarter. American Century Companies Inc. purchased a new position in Packaging Corporation of America during the second quarter worth approximately $59,914,000. Vanguard Group Inc. lifted its position in Packaging Corporation of America by 5.7% during 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 in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Packaging Corporation of America during the first quarter worth approximately $35,656,000. Hedge funds and other institutional investors own 88.18% of the company’s stock.

In other news, VP Thomas A. Hassfurther sold 6,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total transaction of $707,640.00. Following the sale, the vice president now owns 155,071 shares in the company, valued at $18,289,073.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by company insiders.

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Shares of Packaging Corporation of America (PKG) opened at 118.80 on Friday. The stock has a market cap of $11.13 billion, a P/E ratio of 22.89 and a beta of 1.86. Packaging Corporation of America has a 52-week low of $78.03 and a 52-week high of $119.31. The firm has a 50-day moving average price of $111.39 and a 200-day moving average price of $103.63.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.05. Packaging Corporation of America had a return on equity of 27.78% and a net margin of 8.05%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the firm earned $1.25 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. On average, analysts anticipate that Packaging Corporation of America will post $6.02 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Thursday, September 14th. Packaging Corporation of America’s dividend payout ratio (DPR) is 48.56%.

A number of equities analysts recently commented on the company. 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. Jefferies Group LLC set a $114.00 price objective on Packaging Corporation of America and gave the stock a “buy” rating in a research report on Thursday, June 1st. BidaskClub upgraded Packaging Corporation of America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp assumed coverage on Packaging Corporation of America in a research report on Thursday, July 6th. They set a “sector weight” rating on the stock. Finally, Zacks Investment Research upgraded Packaging Corporation of America from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $107.90.

Packaging Corporation of America Company Profile

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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