United Services Automobile Association Increases Stake in Packaging Corp Of America (PKG)

United Services Automobile Association lifted its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 192.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,952 shares of the industrial products company’s stock after acquiring an additional 75,648 shares during the period. United Services Automobile Association owned 0.12% of Packaging Corp Of America worth $12,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. purchased a new position in shares of Packaging Corp Of America during the third quarter worth approximately $122,000. Itau Unibanco Holding S.A. purchased a new position in shares of Packaging Corp Of America during the second quarter worth approximately $125,000. Acadian Asset Management LLC purchased a new position in shares of Packaging Corp Of America during the second quarter worth approximately $155,000. Flagship Harbor Advisors LLC purchased a new position in shares of Packaging Corp Of America during the second quarter worth approximately $165,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Packaging Corp Of America during the second quarter worth approximately $220,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Shares of NYSE PKG opened at $92.95 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.76 and a quick ratio of 1.74. Packaging Corp Of America has a 1-year low of $83.54 and a 1-year high of $131.13. The firm has a market cap of $9.01 billion, a P/E ratio of 15.44, a P/E/G ratio of 1.43 and a beta of 1.85.

Packaging Corp Of America (NYSE:PKG) last issued its quarterly earnings results on Wednesday, October 24th. The industrial products company reported $2.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.08. Packaging Corp Of America had a return on equity of 29.96% and a net margin of 11.54%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.76 billion. On average, sell-side analysts predict that Packaging Corp Of America will post 8.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be issued a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, December 14th. Packaging Corp Of America’s dividend payout ratio is presently 52.49%.

A number of equities analysts have recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of Packaging Corp Of America in a research report on Tuesday, October 23rd. They set a “buy” rating and a $112.00 target price on the stock. BMO Capital Markets lowered shares of Packaging Corp Of America from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $130.00 to $108.00 in a research report on Tuesday, October 9th. ValuEngine lowered shares of Packaging Corp Of America from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. KeyCorp restated a “hold” rating on shares of Packaging Corp Of America in a research report on Thursday, October 25th. Finally, Zacks Investment Research lowered shares of Packaging Corp Of America from a “hold” rating to a “sell” rating in a research report on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $116.91.

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Packaging Corp Of America Company 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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