Buckley Wealth Management LLC Reduces Holdings in Packaging Corp Of America (NYSE:PKG)

Buckley Wealth Management LLC decreased its position in shares of Packaging Corp Of America (NYSE:PKG) by 32.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,198 shares of the industrial products company’s stock after selling 1,517 shares during the period. Buckley Wealth Management LLC’s holdings in Packaging Corp Of America were worth $339,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PKG. Parallel Advisors LLC increased its position in shares of Packaging Corp Of America by 774.2% in the 2nd quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 240 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Packaging Corp Of America in the 2nd quarter worth about $35,000. Motco increased its position in shares of Packaging Corp Of America by 126.3% in the 2nd quarter. Motco now owns 405 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 226 shares during the last quarter. First Mercantile Trust Co. bought a new stake in shares of Packaging Corp Of America in the 2nd quarter worth about $40,000. Finally, NumerixS Investment Technologies Inc increased its position in shares of Packaging Corp Of America by 150.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 500 shares of the industrial products company’s stock worth $48,000 after purchasing an additional 300 shares during the last quarter. 88.04% of the stock is currently owned by hedge funds and other institutional investors.

In other Packaging Corp Of America news, SVP Thomas W.H. Walton sold 6,000 shares of the business’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 completion of the transaction, the senior vice president now directly owns 34,118 shares of the company’s stock, valued at approximately $3,417,600.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 5,000 shares of the business’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 directly owns 12,790 shares of the company’s stock, valued at $1,297,929.20. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

Several research firms have recently weighed in on PKG. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $109.00 target price for the company. in a research report on Wednesday, September 25th. 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. KeyCorp downgraded shares of Packaging Corp Of America from a “sector weight” rating to an “underweight” rating and set a $89.00 target price for the company. in a research report on Monday, July 15th. ValuEngine lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a report on Monday. Finally, Seaport Global Securities lowered shares of Packaging Corp Of America from a “buy” rating to a “neutral” rating and set a $98.02 price target for the company. in a report on Friday, July 12th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Packaging Corp Of America presently has an average rating of “Hold” and a consensus price target of $101.37.

Packaging Corp Of America stock traded up $3.31 during midday trading on Friday, reaching $109.34. 74,850 shares of the stock traded hands, compared to its average volume of 735,189. The company has a current ratio of 3.29, a quick ratio of 2.18 and a debt-to-equity ratio of 0.92. The firm has a fifty day moving average price of $102.61 and a two-hundred day moving average price of $99.04. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.65 and a beta of 1.71. Packaging Corp Of America has a fifty-two week low of $77.90 and a fifty-two week high of $109.36.

Packaging Corp Of America (NYSE:PKG) last posted its earnings results on Wednesday, July 24th. The industrial products company reported $2.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.04. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 EPS. Analysts anticipate that Packaging Corp Of America will post 7.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, September 12th. Packaging Corp Of America’s payout ratio is 39.35%.

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.

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

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