Packaging Corp Of America (NYSE:PKG) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Packaging Corp Of America (NYSE:PKG) by 219.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,168 shares of the industrial products company’s stock after purchasing an additional 15,909 shares during the period. Assenagon Asset Management S.A.’s holdings in Packaging Corp Of America were worth $2,458,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Packaging Corp Of America by 5.2% in the 2nd quarter. Bank of Montreal Can now owns 47,403 shares of the industrial products company’s stock worth $4,518,000 after purchasing an additional 2,334 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Packaging Corp Of America by 73.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 6,233 shares of the industrial products company’s stock worth $594,000 after purchasing an additional 2,634 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Packaging Corp Of America by 0.5% in the 1st quarter. Nordea Investment Management AB now owns 31,247 shares of the industrial products company’s stock worth $3,105,000 after purchasing an additional 147 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Packaging Corp Of America by 5.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 43,298 shares of the industrial products company’s stock worth $4,127,000 after purchasing an additional 2,350 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Packaging Corp Of America by 20.0% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,210 shares of the industrial products company’s stock worth $788,000 after purchasing an additional 1,368 shares during the last quarter. 88.08% of the stock is currently owned by institutional investors.

Packaging Corp Of America stock opened at $108.22 on Friday. The firm’s 50 day simple moving average is $104.08 and its 200-day simple moving average is $99.47. The company has a market cap of $10.24 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 2.77 and a beta of 1.71. 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 has a fifty-two week low of $77.90 and a fifty-two week high of $110.35.

Packaging Corp Of America (NYSE:PKG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share for the quarter, hitting the consensus estimate of $2.04. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.78 billion. Packaging Corp Of America had a net margin of 11.23% and a return on equity of 29.23%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $2.08 earnings per share. On average, analysts expect that Packaging Corp Of America will post 7.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Thursday, September 12th. Packaging Corp Of America’s dividend payout ratio is currently 39.35%.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price objective on the stock. in a research note on Monday, October 14th. UBS Group set a $106.00 price objective on shares of Packaging Corp Of America and gave the stock a “buy” rating in a research note on Monday, June 24th. ValuEngine cut shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. 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. Finally, Citigroup lifted their target price on shares of Packaging Corp Of America from $101.00 to $108.00 and gave the stock a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $103.82.

In related news, SVP Donald R. Shirley sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $101.48, for a total transaction of $507,400.00. Following the completion of the sale, the senior vice president now directly owns 12,790 shares in the company, valued at $1,297,929.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas W.H. Walton sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $100.17, for a total transaction of $601,020.00. Following the sale, the senior vice president now owns 34,118 shares of the company’s stock, valued at $3,417,600.06. The disclosure for this sale can be found here. Company 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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