Capital Innovations Lowers stake in Packaging Corp Of America (PKG)

Packaging Corp Of America (PKG) : Capital Innovations reduced its stake in Packaging Corp Of America by 6.6% during the most recent quarter end. The investment management company now holds a total of 18,529 shares of Packaging Corp Of America which is valued at $1,592,938 after selling 1,310 shares in Packaging Corp Of America , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Packaging Corp Of America makes up approximately 4.21% of Capital Innovations’s portfolio.

Other Hedge Funds, Including , D.a. Davidson added PKG to its portfolio by purchasing 74 company shares during the most recent quarter which is valued at $6,362. Motco added PKG to its portfolio by purchasing 109 company shares during the most recent quarter which is valued at $8,648.Brc Investment Management reduced its stake in PKG by selling 48,050 shares or 31.47% in the most recent quarter. The Hedge Fund company now holds 104,620 shares of PKG which is valued at $8,404,125. Packaging Corp Of America makes up approx 1.97% of Brc Investment Management’s portfolio.

Packaging Corp Of America opened for trading at $86.77 and hit $87.75 on the upside on Monday, eventually ending the session at $87.51, with a gain of 0.84% or 0.73 points. The heightened volatility saw the trading volume jump to 6,36,503 shares. Company has a market cap of $8,246 M.

On the company’s financial health, Packaging Corp Of America reported $1.30 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus of $1.31. The company had revenue of $1484.00 million for the quarter, compared to analysts expectations of $1460.60 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.

Many Wall Street Analysts have commented on Packaging Corp Of America. Packaging Corp Of America was Upgraded by BofA/Merrill to ” Buy” on Oct 18, 2016. Goldman Initiated Packaging Corp Of America on Sep 22, 2016 to “Sell”, Price Target of the shares are set at $77.

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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