Rockshelter Capital Management buys $13.8 Million stake in Packaging Corp Of America (PKG)

Packaging Corp Of America (PKG) : Rockshelter Capital Management scooped up 52,861 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 May 12, 2016. The investment management firm now holds a total of 211,644 shares of Packaging Corp Of America which is valued at $13.8 Million.Packaging Corp Of America makes up approximately 4.80% of Rockshelter Capital Management’s portfolio.

Other Hedge Funds, Including , Guyasuta Investment Advisors Inc boosted its stake in PKG in the latest quarter, The investment management firm added 13,666 additional shares and now holds a total of 213,565 shares of Packaging Corp Of America which is valued at $14 Million. Packaging Corp Of America makes up approx 1.93% of Guyasuta Investment Advisors Inc’s portfolio.Teacher Retirement System Of Texas reduced its stake in PKG by selling 331,700 shares or 98.43% in the most recent quarter. The Hedge Fund company now holds 5,282 shares of PKG which is valued at $345,020. Gsa Capital Partners Llp sold out all of its stake in PKG during the most recent quarter. The investment firm sold 16,754 shares of PKG which is valued $1.1 Million.California Public Employees Retirement System reduced its stake in PKG by selling 1,100 shares or 0.44% in the most recent quarter. The Hedge Fund company now holds 250,000 shares of PKG which is valued at $16.3 Million. Packaging Corp Of America makes up approx 0.03% of California Public Employees Retirement System’s portfolio.Ifp Advisors Inc boosted its stake in PKG in the latest quarter, The investment management firm added 263 additional shares and now holds a total of 2,741 shares of Packaging Corp Of America which is valued at $178,932. Packaging Corp Of America makes up approx 0.01% of Ifp Advisors Inc’s portfolio.

Packaging Corp Of America opened for trading at $64.45 and hit $65.2089 on the upside on Friday, eventually ending the session at $65.13, with a gain of 1.56% or 1 points. The heightened volatility saw the trading volume jump to 8,13,079 shares. Company has a market cap of $6,129 M.

On the company’s financial health, Packaging Corp Of America reported $1.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $1.01. The company had revenue of $1401.00 million for the quarter, compared to analysts expectations of $1398.13 million. The company’s revenue was down -1.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.01 EPS.

Investors should note that on May 18, 2016, Packaging Corp Of America announced a cash dividend of $0.5500. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 15, 2016.

Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Downgraded by Dundee to ” Neutral” on Apr 11, 2016. Company shares were Reiterated by Deutsche Bank on Apr 11, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .

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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