Mitsubishi UFJ Trust & Banking Corp Sells 4,827 Shares of Packaging Corp Of America (PKG)

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Packaging Corp Of America (NYSE:PKG) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 222,867 shares of the industrial products company’s stock after selling 4,827 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.24% of Packaging Corp Of America worth $25,558,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Zeke Capital Advisors LLC acquired a new stake in shares of Packaging Corp Of America during the 3rd quarter valued at about $397,000. Legal & General Group Plc lifted its holdings in Packaging Corp Of America by 144.2% during the 3rd quarter. Legal & General Group Plc now owns 463,659 shares of the industrial products company’s stock valued at $53,172,000 after purchasing an additional 273,755 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Packaging Corp Of America by 43.8% during the 3rd quarter. Nordea Investment Management AB now owns 4,179 shares of the industrial products company’s stock valued at $479,000 after purchasing an additional 1,272 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Packaging Corp Of America by 136.5% during the 3rd quarter. TD Asset Management Inc. now owns 48,451 shares of the industrial products company’s stock valued at $5,556,000 after purchasing an additional 27,966 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in Packaging Corp Of America during the 3rd quarter valued at about $703,000. Institutional investors and hedge funds own 90.24% of the company’s stock.

In other Packaging Corp Of America news, SVP Charles J. Carter sold 6,150 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $117.04, for a total value of $719,796.00. Following the completion of the transaction, the senior vice president now directly owns 24,265 shares of the company’s stock, valued at $2,839,975.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jason Wayne Moreau bought 1,326,000 shares of the company’s stock in a transaction on Thursday, September 14th. The stock was bought at an average cost of $0.06 per share, with a total value of $79,560.00. Over the last ninety days, insiders sold 73,177 shares of company stock valued at $2,135,172. Insiders own 1.20% of the company’s stock.

Several equities analysts recently issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and set a $122.00 price target (up from $118.00) on shares of Packaging Corp Of America in a report on Tuesday, August 22nd. Jefferies Group reissued a “buy” rating and set a $128.00 price target on shares of Packaging Corp Of America in a report on Friday, August 18th. Barclays lifted their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. Vertical Research reissued a “buy” rating and set a $124.00 price target (up from $118.00) on shares of Packaging Corp Of America in a report on Wednesday, August 23rd. Finally, KeyCorp reissued a “hold” rating on shares of Packaging Corp Of America in a report on Sunday, October 29th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Packaging Corp Of America has a consensus rating of “Hold” and an average price target of $117.36.

Shares of Packaging Corp Of America (NYSE:PKG) traded down $0.42 during midday trading on Thursday, hitting $117.34. 520,900 shares of the company’s stock were exchanged, compared to its average volume of 888,419. Packaging Corp Of America has a one year low of $84.01 and a one year high of $120.75. The company has a market capitalization of $11,110.71, a P/E ratio of 20.66, a PEG ratio of 2.36 and a beta of 1.81. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.49 and a current ratio of 2.45.

Packaging Corp Of America (NYSE:PKG) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $1.30 earnings per share. The company’s revenue was up 10.5% on a year-over-year basis. research analysts expect that Packaging Corp Of America will post 5.99 earnings per share for the current year.

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About Packaging Corp Of America

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 Corp Of America (NYSE:PKG)

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