Vaughan Nelson Investment Management L.P. Reduces Position in Packaging Corporation of America (PKG)

Vaughan Nelson Investment Management L.P. decreased its stake in Packaging Corporation of America (NYSE:PKG) by 55.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,790 shares of the industrial products company’s stock after selling 224,075 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.20% of Packaging Corporation of America worth $20,962,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in Packaging Corporation of America by 12.4% in the 2nd quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Packaging Corporation of America by 84.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 665 shares during the last quarter. Creative Planning lifted its stake in Packaging Corporation of America by 7.9% in the 2nd quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 123 shares during the last quarter. Atria Investments LLC bought a new position in Packaging Corporation of America in the 2nd quarter valued at approximately $200,000. Finally, Perpetual Ltd bought a new position in Packaging Corporation of America in the 2nd quarter valued at approximately $201,000. 88.42% of the stock is owned by institutional investors and hedge funds.

Shares of Packaging Corporation of America (PKG) opened at 116.93 on Monday. Packaging Corporation of America has a 52-week low of $78.03 and a 52-week high of $120.75. The firm has a market capitalization of $10.95 billion, a PE ratio of 22.53 and a beta of 1.83. The stock’s 50 day moving average is $116.71 and its 200 day moving average is $108.48.

Packaging Corporation of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 EPS for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Packaging Corporation of America had a net margin of 8.18% and a return on equity of 29.38%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company earned $1.30 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that Packaging Corporation of America will post $6.04 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 15th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. Packaging Corporation of America’s dividend payout ratio is currently 46.67%.

Several equities analysts have recently issued reports on PKG shares. BMO Capital Markets reaffirmed a “buy” rating and set a $118.00 price target on shares of Packaging Corporation of America in a research note on Friday, August 4th. BidaskClub raised shares of Packaging Corporation of America from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. KeyCorp reaffirmed a “hold” rating on shares of Packaging Corporation of America in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Packaging Corporation of America from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $128.00 price target on shares of Packaging Corporation of America in a research note on Friday, August 18th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $115.55.

In related news, VP Thomas A. Hassfurther sold 6,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $117.94, for a total transaction of $707,640.00. Following the completion of the sale, the vice president now directly owns 155,071 shares in the company, valued at approximately $18,289,073.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2017/10/30/vaughan-nelson-investment-management-l-p-reduces-position-in-packaging-corporation-of-america-pkg.html.

Packaging Corporation of America Company Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

Institutional Ownership by Quarter for Packaging Corporation of America (NYSE:PKG)

What are top analysts saying about Packaging Corporation of America? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Packaging Corporation of America and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit