Tower Research Capital LLC TRC Trims Holdings in Packaging Corp Of America (NYSE:PKG)

Tower Research Capital LLC TRC cut its holdings in Packaging Corp Of America (NYSE:PKG) by 24.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,043 shares of the industrial products company’s stock after selling 1,005 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Packaging Corp Of America were worth $290,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Hartline Investment Corp grew its position in shares of Packaging Corp Of America by 1.0% in the 2nd quarter. Hartline Investment Corp now owns 10,113 shares of the industrial products company’s stock worth $964,000 after buying an additional 100 shares during the period. CENTRAL TRUST Co grew its position in shares of Packaging Corp Of America by 3.2% in the 2nd quarter. CENTRAL TRUST Co now owns 3,280 shares of the industrial products company’s stock worth $325,000 after buying an additional 102 shares during the period. Scotia Capital Inc. grew its position in shares of Packaging Corp Of America by 1.8% in the 2nd quarter. Scotia Capital Inc. now owns 5,861 shares of the industrial products company’s stock worth $559,000 after buying an additional 103 shares during the period. Securian Asset Management Inc grew its position in shares of Packaging Corp Of America by 1.2% in the 2nd quarter. Securian Asset Management Inc now owns 9,721 shares of the industrial products company’s stock worth $927,000 after buying an additional 115 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC grew its position in shares of Packaging Corp Of America by 0.8% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 14,360 shares of the industrial products company’s stock worth $1,427,000 after buying an additional 119 shares during the period. 88.05% of the stock is currently owned by hedge funds and other institutional investors.

Packaging Corp Of America stock traded down $0.49 during mid-day trading on Friday, reaching $102.84. The stock had a trading volume of 960,131 shares, compared to its average volume of 696,050. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 2.72 and a beta of 1.71. The company has a 50-day moving average price of $101.40 and a two-hundred day moving average price of $98.42. Packaging Corp Of America has a one year low of $77.90 and a one year high of $118.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 3.29 and a quick ratio of 2.18.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $2.04. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. Packaging Corp Of America’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.08 EPS. On average, equities research analysts anticipate that Packaging Corp Of America will post 7.7 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Thursday, September 12th. Packaging Corp Of America’s payout ratio is 39.35%.

A number of research firms have recently weighed in on PKG. KeyCorp downgraded shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 target price on the stock. in a research report on Monday, July 15th. Seaport Global Securities downgraded shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 target price on the stock. in a research report on Friday, July 12th. They noted that the move was a valuation call. ValuEngine raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, UBS Group set a $106.00 target price on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $100.09.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,000 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $100.17, for a total transaction of $601,020.00. Following the transaction, the senior vice president now owns 34,118 shares in the company, valued at approximately $3,417,600.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 5,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the transaction, the senior vice president now owns 12,790 shares in the company, valued at approximately $1,297,929.20. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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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