Traders are more bullish on shares of the company of late considering the downtick in short interest. The firm recorded a fall in short interest between August 15, 2017 and August 31, 2017 of -8.42%. Short shares decreased from 2,661,218 to 2,437,013 over that period. Days to cover decreased 0.0 to 3.0 and the short interest percentage is 0.03% as of August 31.
Here is a rundown on some insider market activity for Packaging Corporation of Americ (NYSE:PKG). Thomas A. Hassfurther, Exec. VP disclosed the sale of 6,000 shares of (PKG). The shares were purchased at an average price of $117.94. Hassfurther now owns $6,446,836 of the stock according to the SEC filing.
Additionally, here are a few investment firms who have increased or decreased their stake in (PKG). As of quarter end Cantab Capital Partners Llp had bought 2,742 shares growing its holdings by 25.2%. The value of the investment in (PKG) increased from $998,000 to $1,519,000,000 increasing 152,104.4% since the last quarter. As of the end of the quarter Edge Asset Management, Inc had acquired a total of 17,248 shares growing its position 4.5%. The value of the investment in PKG went from $32,550,000 to $36,740,000 a change of $4,190,000 for the reporting period.
12th Street Asset Management Company, LLC bolstered its investment by buying 75,023 shares an increase of 106.1% as of 06/30/2017. 12th Street Asset Management Company, LLC now holds 145,740 shares worth $16,234,000. The value of the position overall is up by 150.6%. As of the end of the quarter Next Financial Group, Inc had acquired a total of 30 shares growing its stake by 30.0%. The value of the investment in Packaging Corporation of Americ increased from $10,000 to $14,000,000 a change of 139,900.0% quarter to quarter.
On July 13 the company was changed to “Neutral” in a report from Goldman Sachs which is up from the previous “Sell” rating. KeyBanc initiated coverage by announcing an initial rating of “Sector Weight”.
The company is now up by 0.89% percent from yesterday’s close. Packaging Corporation of Americ also recently declared a dividend that will be paid on Friday October 13th, 2017. The dividend will be $0.630 per share for the quarter or $2.52 on an annualized basis. This dividend represents a yield of $2.17. The ex-dividend date will be Thursday the 14th of September 2017.
The stock is trading at $117.26 which is marginally higher than the 50 day moving average which is $111.39 and which is significantly higher than the 200 day moving average of $103.63. The 50 day moving average was up $5.87 and the 200 day average went up $13.63 or +13.15%.
The P/E ratio is 22.59 and the market cap is 10.98B. As of the last earnings report the EPS was $5.19 and is projected to be $6.02 for the current year with 93,651,000 shares currently outstanding. Next quarter’s EPS is forecasted at $1.55 with next year’s EPS projected to be $6.69.
Packaging Corporation of America (PCA), launched on January 25, 1999, 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. As of December 31, 2016, the Company operated five containerboard mills, three paper mills and 94 corrugated products manufacturing plants..