Packaging Corp Of America (PKG) : Capital Innovations reduced its stake in Packaging Corp Of America by 61.12% during the most recent quarter end. The investment management company now holds a total of 19,839 shares of Packaging Corp Of America which is valued at $1,510,938 after selling 31,187 shares in Packaging Corp Of America , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Packaging Corp Of America makes up approximately 4.23% of Capital Innovations’s portfolio.
Other Hedge Funds, Including , Great Lakes Advisors boosted its stake in PKG in the latest quarter, The investment management firm added 1,412 additional shares and now holds a total of 99,926 shares of Packaging Corp Of America which is valued at $7,610,364. Packaging Corp Of America makes up approx 0.20% of Great Lakes Advisors’s portfolio. 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.Norinchukin Bank The reduced its stake in PKG by selling 5,300 shares or 26.5% in the most recent quarter. The Hedge Fund company now holds 14,700 shares of PKG which is valued at $1,131,312. Packaging Corp Of America makes up approx 0.03% of Norinchukin Bank The’s portfolio.Boston Partners boosted its stake in PKG in the latest quarter, The investment management firm added 84,909 additional shares and now holds a total of 2,478,510 shares of Packaging Corp Of America which is valued at $184,971,201. Packaging Corp Of America makes up approx 0.25% of Boston Partners’s portfolio.World Asset Management Inc reduced its stake in PKG by selling 34 shares or 0.68% in the most recent quarter. The Hedge Fund company now holds 4,990 shares of PKG which is valued at $369,460. Packaging Corp Of America makes up approx 0.01% of World Asset Management Inc’s portfolio.
Packaging Corp Of America closed down -0.45 points or -0.57% at $78.91 with 6,55,811 shares getting traded on Monday. Post opening the session at $79.4, the shares hit an intraday low of $78.78 and an intraday high of $79.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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 Companys 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 Companys 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.