Skba Capital Management buys $21,445,894 stake in Packaging Corp Of America (PKG)

Packaging Corp Of America (PKG) : Skba Capital Management scooped up 17,600 additional shares in Packaging Corp Of America during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 281,590 shares of Packaging Corp Of America which is valued at $21,445,894.Packaging Corp Of America makes up approximately 2.02% of Skba Capital Management’s portfolio.

Other Hedge Funds, Including , Trexquant Investment Lp added PKG to its portfolio by purchasing 13,500 company shares during the most recent quarter which is valued at $1,028,160. Packaging Corp Of America makes up approx 0.13% of Trexquant Investment Lp’s portfolio.Olstein Capital Management reduced its stake in PKG by selling 31,000 shares or 22.96% in the most recent quarter. The Hedge Fund company now holds 104,000 shares of PKG which is valued at $7,760,480. Packaging Corp Of America makes up approx 0.99% of Olstein Capital Management’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in PKG in the latest quarter, The investment management firm added 388 additional shares and now holds a total of 4,155 shares of Packaging Corp Of America which is valued at $311,957. Packaging Corp Of America makes up approx 0.03% of Tokio Marine Asset Management Co Ltd’s portfolio.Wagner Bowman Management Corp reduced its stake in PKG by selling 200 shares or 5.17% in the most recent quarter. The Hedge Fund company now holds 3,670 shares of PKG which is valued at $275,544. Packaging Corp Of America makes up approx 0.11% of Wagner Bowman Management Corp’s portfolio.

Packaging Corp Of America opened for trading at $77.13 and hit $77.97 on the upside on Friday, eventually ending the session at $77.79, with a gain of 0.19% or 0.15 points. The heightened volatility saw the trading volume jump to 5,54,145 shares. Company has a market cap of $7,330 M.

On the company’s financial health, Packaging Corp Of America reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.18. The company had revenue of $1417.40 million for the quarter, compared to analysts expectations of $1455.32 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.18 EPS.

Many Wall Street Analysts have commented on Packaging Corp Of America. Company shares were Reiterated by Barclays on Jul 25, 2016 to “Overweight”, Firm has raised the Price Target to $ 81 from a previous price target of $71 .Packaging Corp Of America was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.

Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Company’s operations are primarily in the United States and it has converting operations in Europe Mexico and Canada. The Company operates through three segments: Packaging Paper and Corporate and Other. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products including shipping containers used to protect and transport manufactured goods multi-color boxes and displays. It manufactures its Packaging products at five containerboard mills one containerboard machine corrugated manufacturing operations and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities and foreign exchange gains and losses.

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