The firm owned 223,100 shares of the industrial products company's stock after selling 9,500 shares during the period. TrimTabs Asset Management LLC raised its position in Packaging Corporation of America by 88.5% in the first quarter.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Packaging Corporation of America by 5.7% in the first quarter. Federated Investors Inc. PA now owns 225,588 shares of the industrial products company's stock valued at $19,135,000 after buying an additional 173,453 shares during the last quarter. Invictus RG purchased a new position in shares of KapStone Paper and Packaging Corporation during the first quarter valued at $153,000. L P now owns 2,375 shares of the industrial products company's stock worth $201,000 after buying an additional 2,097 shares in the last quarter. Wellington Management Group LLP boosted its stake in KapStone Paper and Packaging Corporation by 44.5% in the first quarter. State of Alaska Department of Revenue boosted its position in shares of KapStone Paper and Packaging Corporation by 2.5% in the first quarter. Finally, State Street Corp boosted its stake in KapStone Paper and Packaging Corporation by 0.9% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,150 shares of the industrial products company's stock worth $197,000 after buying an additional 231 shares during the period.
Hedge funds have recently added to or reduced their stakes in the company.
KapStone Paper and Packaging Corporation (KS) opened at 22.36 on Monday. Packaging Corporation of America has a 12 month low of $65.12 and a 12 month high of $113.58.
It is now trading at $22.36 which is a tad above $21.05, the 50 day moving average and just a bit higher than the 200 day moving average of $22.30.
The company's P/E ratio is 29.08 and market cap is 2.16B.
Packaging Corporation of America (NYSE:PKG) last released its earnings results on Wednesday, April 26th. The dividend payment was $0.100 per share for the quarter or $0.40 on an annualized basis. Packaging Corporation of America had a net margin of 7.81% and a return on equity of 27.29%. The company had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter a year ago, the business posted $1.11 EPS. The firm's quarterly revenue was up 3.8% compared to the same quarter past year. Analysts forecast that KapStone Paper and Packaging Corporation will post $1.32 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, June 13th. Packaging Corporation of America's payout ratio is 51.43%. If you are reading this report on another site, it was stolen and republished in violation of U.S. & global trademark & copyright law. The original version of this report can be accessed at https://baseballnewssource.com/markets/valuengine-downgrades-kapstone-paper-and-packaging-corporation-nyseks-to-hold/1213790.html.
KS has been the topic of a number of analyst reports.
A few Wall Street analysts have provided guidance on KapStone Paper and Packaging Co of late. (The) raised shares of Packaging Corporation of America from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $105.00 to $111.00 in a report on Thursday. BidaskClub cut KapStone Paper and Packaging Corporation from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 24th. On October 3 the company was set at "Buy" in a report from Bank of America which was a boost from the previous "Neutral" rating. Finally, BMO Capital Markets restated a "buy" rating and set a $28.00 target price on shares of KapStone Paper and Packaging Corporation in a report on Friday, April 7th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock now has a consensus rating of Hold and an average target price of $96.33. The shares were acquired at an average cost of $20.00 per share, with a total value of $100,000.00. Following the completion of the purchase, the director now owns 45,127 shares of the company's stock, valued at approximately $902,540. The shares were sold at an average price of $21.23, for a total transaction of $265,035.32. Following the transaction, the director now directly owns 1,178,915 shares in the company, valued at $25,028,365.45. The disclosure for this sale can be found here.
About Packaging Corporation of America Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through two segments: Paper and Packaging, and Distribution. The Paper and Packaging segment manufactures and sells a range of containerboard, corrugated products and specialty paper for industrial and consumer markets.