Trimtabs Asset Management Lowers stake in Packaging Corp Of America (PKG)

Packaging Corp Of America (PKG) : Trimtabs Asset Management reduced its stake in Packaging Corp Of America by 10.42% during the most recent quarter end. The investment management company now holds a total of 24,137 shares of Packaging Corp Of America which is valued at $1,787,103 after selling 2,807 shares in Packaging Corp Of America , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Packaging Corp Of America makes up approximately 1.11% of Trimtabs Asset Management’s portfolio.

Other Hedge Funds, Including , Calamos Wealth Management sold out all of its stake in PKG during the most recent quarter. The investment firm sold 5,940 shares of PKG which is valued $445,975.Kanaly Trust Co boosted its stake in PKG in the latest quarter, The investment management firm added 62 additional shares and now holds a total of 208 shares of Packaging Corp Of America which is valued at $15,463.Firstmerit Bank N A Trustee boosted its stake in PKG in the latest quarter, The investment management firm added 536 additional shares and now holds a total of 7,101 shares of Packaging Corp Of America which is valued at $504,029. Packaging Corp Of America makes up approx 0.04% of Firstmerit Bank N A Trustee’s portfolio.

Packaging Corp Of America opened for trading at $74.32 and hit $75.44 on the upside on Thursday, eventually ending the session at $74.25, with a gain of 0.28% or 0.21 points. The heightened volatility saw the trading volume jump to 7,16,861 shares. Company has a market cap of $6,988 M.

On the company’s financial health, Packaging Corp Of America reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $1.18. The company had revenue of $1417.40 million for the quarter, compared to analysts expectations of $1455.32 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.18 EPS.

Many Wall Street Analysts have commented on Packaging Corp Of America. Company shares were Reiterated by Barclays on Jul 25, 2016 to “Overweight”, Firm has raised the Price Target to $ 81 from a previous price target of $71 .Packaging Corp Of America was Downgraded by Buckingham Research to ” Neutral” on Jul 18, 2016.

Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Company’s operations are primarily in the United States and it has converting operations in Europe Mexico and Canada. The Company operates through three segments: Packaging Paper and Corporate and Other. The Company’s corrugated products manufacturing plants produce a variety of corrugated packaging products including shipping containers used to protect and transport manufactured goods multi-color boxes and displays. It manufactures its Packaging products at five containerboard mills one containerboard machine corrugated manufacturing operations and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities and foreign exchange gains and losses.

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