Sciencast Management LP Takes Position in Packaging Corp Of America (PKG)

Sciencast Management LP purchased a new stake in shares of Packaging Corp Of America (NYSE:PKG) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,446 shares of the industrial products company’s stock, valued at approximately $1,559,000. Packaging Corp Of America comprises approximately 0.8% of Sciencast Management LP’s holdings, making the stock its 16th biggest position.

Several other large investors have also recently bought and sold shares of PKG. Millennium Management LLC grew its holdings in shares of Packaging Corp Of America by 416.9% during the fourth quarter. Millennium Management LLC now owns 630,773 shares of the industrial products company’s stock valued at $76,040,000 after buying an additional 508,733 shares during the last quarter. MD Sass Investors Services Inc. purchased a new stake in Packaging Corp Of America in the fourth quarter worth approximately $27,191,000. Glenhill Advisors LLC purchased a new stake in Packaging Corp Of America in the fourth quarter worth approximately $26,610,000. Victory Capital Management Inc. boosted its holdings in Packaging Corp Of America by 14.2% in the first quarter. Victory Capital Management Inc. now owns 1,579,615 shares of the industrial products company’s stock worth $178,022,000 after purchasing an additional 195,831 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its holdings in Packaging Corp Of America by 15.9% in the first quarter. Neuberger Berman Group LLC now owns 1,177,332 shares of the industrial products company’s stock worth $132,731,000 after purchasing an additional 161,370 shares during the last quarter. Hedge funds and other institutional investors own 86.72% of the company’s stock.

Packaging Corp Of America opened at $120.64 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.58 and a current ratio of 2.72. Packaging Corp Of America has a 1-year low of $104.29 and a 1-year high of $131.13. The company has a market capitalization of $11.68 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.87 and a beta of 1.80.

Packaging Corp Of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.02. Packaging Corp Of America had a net margin of 10.48% and a return on equity of 28.10%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $1.27 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. equities analysts anticipate that Packaging Corp Of America will post 7.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 15th will be given a $0.79 dividend. The ex-dividend date is Thursday, June 14th. This is an increase from Packaging Corp Of America’s previous quarterly dividend of $0.63. This represents a $3.16 annualized dividend and a yield of 2.62%. Packaging Corp Of America’s dividend payout ratio (DPR) is presently 41.86%.

In other Packaging Corp Of America news, Director Paul T. Stecko sold 566 shares of the stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $120.94, for a total value of $68,452.04. Following the transaction, the director now directly owns 69,077 shares in the company, valued at $8,354,172.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Several equities research analysts recently issued reports on PKG shares. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a report on Wednesday, April 25th. Zacks Investment Research cut shares of Packaging Corp Of America from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 27th. Finally, Citigroup dropped their target price on shares of Packaging Corp Of America from $136.00 to $123.00 and set a “neutral” rating on the stock in a report on Thursday, April 5th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Packaging Corp Of America presently has an average rating of “Buy” and an average target price of $128.92.

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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