Charter Trust Co. Takes Position in Packaging Corp Of America (PKG)

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Charter Trust Co. purchased a new stake in Packaging Corp Of America (NYSE:PKG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,099 shares of the industrial products company’s stock, valued at approximately $230,000.

Other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Packaging Corp Of America during the second quarter worth $155,000. Aperio Group LLC grew its holdings in Packaging Corp Of America by 10.2% during the second quarter. Aperio Group LLC now owns 29,585 shares of the industrial products company’s stock worth $3,307,000 after buying an additional 2,746 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Packaging Corp Of America by 6.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 310,044 shares of the industrial products company’s stock worth $34,660,000 after buying an additional 20,002 shares in the last quarter. Aviva PLC grew its holdings in Packaging Corp Of America by 1.0% during the second quarter. Aviva PLC now owns 46,910 shares of the industrial products company’s stock worth $5,244,000 after buying an additional 460 shares in the last quarter. Finally, Alps Advisors Inc. grew its holdings in Packaging Corp Of America by 136.2% during the second quarter. Alps Advisors Inc. now owns 9,444 shares of the industrial products company’s stock worth $1,056,000 after buying an additional 5,445 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Several equities research analysts recently issued reports on PKG shares. Seaport Global Securities started coverage on Packaging Corp Of America in a report on Tuesday, October 23rd. They set a “buy” rating and a $112.00 price target for the company. Argus reduced their price objective on Packaging Corp Of America from $130.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, October 26th. Barclays reduced their price objective on Packaging Corp Of America from $100.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, October 29th. Deutsche Bank set a $120.00 price objective on Packaging Corp Of America and gave the company a “hold” rating in a research note on Monday, October 29th. Finally, ValuEngine upgraded Packaging Corp Of America from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $116.91.

Shares of NYSE:PKG opened at $92.95 on Friday. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 15.44, a price-to-earnings-growth ratio of 1.43 and a beta of 1.85. The company has a quick ratio of 1.74, a current ratio of 2.76 and a debt-to-equity ratio of 0.99. Packaging Corp Of America has a 1 year low of $83.54 and a 1 year high of $131.13.

Packaging Corp Of America (NYSE:PKG) last announced its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.08. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. On average, equities analysts forecast that Packaging Corp Of America will post 8.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.79 dividend. The ex-dividend date is Friday, December 14th. This represents a $3.16 dividend on an annualized basis and a yield of 3.40%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 52.49%.

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Packaging Corp Of America Company 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.

Read More: Market Capitalization

Want to see what other hedge funds are holding PKG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Packaging Corp Of America (NYSE:PKG).

Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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