Packaging Corporation of America $PKG Position Trimmed by Adams Natural Resources Fund Inc.

Key Points

• Adams Natural Resources Fund Inc. significantly reduced its stake in Packaging Corporation of America by 59.1%, holding 7,400 shares after selling 10,700 shares, amounting to a value of $1,395,000.
• Institutional investors control 89.78% of Packaging Corporation of America's stock, with multiple firms adjusting their stakes, including notable increases from Wealth Enhancement Advisory Services LLC and Brookstone Capital Management.
• A quarterly dividend of $1.25 per share was recently declared, representing a 2.4% yield, with a payout ratio of 49.90%.

Adams Natural Resources Fund Inc. decreased its position in Packaging Corporation of America (NYSE:PKG - Free Report) by 59.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,400 shares of the industrial products company's stock after selling 10,700 shares during the period. Adams Natural Resources Fund Inc.'s holdings in Packaging Corporation of America were worth $1,395,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new position in Packaging Corporation of America in the 1st quarter worth approximately $2,127,000. Wealth Enhancement Advisory Services LLC boosted its stake in Packaging Corporation of America by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 28,639 shares of the industrial products company's stock worth $5,671,000 after purchasing an additional 1,531 shares during the period. Brookstone Capital Management boosted its stake in Packaging Corporation of America by 718.0% in the 1st quarter. Brookstone Capital Management now owns 10,086 shares of the industrial products company's stock worth $1,997,000 after purchasing an additional 8,853 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in Packaging Corporation of America by 11.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 250,197 shares of the industrial products company's stock worth $49,544,000 after purchasing an additional 25,471 shares during the period. Finally, Commerce Bank boosted its stake in Packaging Corporation of America by 27.7% in the 1st quarter. Commerce Bank now owns 69,401 shares of the industrial products company's stock worth $13,743,000 after purchasing an additional 15,041 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group decreased their price objective on shares of Packaging Corporation of America from $226.00 to $225.00 and set a "neutral" rating for the company in a research note on Thursday, October 16th. Wells Fargo & Company lifted their target price on shares of Packaging Corporation of America from $200.00 to $222.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. began coverage on shares of Packaging Corporation of America in a research note on Wednesday, September 24th. They set an "overweight" rating and a $242.00 target price for the company. Citigroup lifted their target price on shares of Packaging Corporation of America from $214.00 to $218.00 and gave the company a "neutral" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Packaging Corporation of America in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Packaging Corporation of America has an average rating of "Moderate Buy" and a consensus price target of $229.33.

Insider Buying and Selling at Packaging Corporation of America

In related news, CEO Mark W. Kowlzan sold 25,000 shares of Packaging Corporation of America stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $215.97, for a total value of $5,399,250.00. Following the transaction, the chief executive officer owned 437,378 shares in the company, valued at $94,460,526.66. This trade represents a 5.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.50% of the company's stock.

Packaging Corporation of America Stock Up 1.3%

Packaging Corporation of America stock opened at $208.48 on Wednesday. The company has a market capitalization of $18.76 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.21 and a beta of 0.91. The firm's fifty day simple moving average is $211.04 and its 200-day simple moving average is $198.95. The company has a current ratio of 3.54, a quick ratio of 2.32 and a debt-to-equity ratio of 0.54. Packaging Corporation of America has a 1-year low of $172.71 and a 1-year high of $250.82.

Packaging Corporation of America (NYSE:PKG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The industrial products company reported $2.48 earnings per share for the quarter, beating analysts' consensus estimates of $2.44 by $0.04. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.18 billion. Packaging Corporation of America had a net margin of 10.47% and a return on equity of 20.08%. Packaging Corporation of America's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. Sell-side analysts forecast that Packaging Corporation of America will post 10.44 earnings per share for the current fiscal year.

Packaging Corporation of America Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a dividend of $1.25 per share. The ex-dividend date was Monday, September 15th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. Packaging Corporation of America's dividend payout ratio (DPR) is currently 49.90%.

About Packaging Corporation of America

Packaging Corporation of America engages in the production of container products. It operates through the following segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers a variety of corrugated packaging products, such as conventional shipping containers. The Paper segment manufactures and sells a range of papers, including communication-based papers, and pressure sensitive papers.

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