Private Trust Co. NA Acquires 195 Shares of Packaging Co. of America (NYSE:PKG)

Private Trust Co. NA raised its holdings in Packaging Co. of America (NYSE:PKG) by 21.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,090 shares of the industrial products company’s stock after acquiring an additional 195 shares during the quarter. Private Trust Co. NA’s holdings in Packaging Co. of America were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Boston Partners grew its holdings in shares of Packaging Co. of America by 49.3% in the first quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock worth $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Millennium Management LLC boosted its position in Packaging Co. of America by 34.3% in the 2nd quarter. Millennium Management LLC now owns 1,027,585 shares of the industrial products company’s stock valued at $187,596,000 after buying an additional 262,315 shares during the period. AQR Capital Management LLC grew its stake in Packaging Co. of America by 164.3% in the 2nd quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after acquiring an additional 249,483 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Packaging Co. of America by 41,151.7% during the third quarter. International Assets Investment Management LLC now owns 155,519 shares of the industrial products company’s stock worth $33,499,000 after acquiring an additional 155,142 shares during the period. Finally, Mizuho Securities USA LLC raised its stake in shares of Packaging Co. of America by 1,800.2% during the third quarter. Mizuho Securities USA LLC now owns 130,583 shares of the industrial products company’s stock valued at $28,128,000 after acquiring an additional 123,711 shares in the last quarter. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PKG shares. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Citigroup raised their price target on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, StockNews.com cut shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $221.60.

Insider Transactions at Packaging Co. of America

In related news, CFO Robert P. Mundy sold 12,500 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the transaction, the chief financial officer now directly owns 43,954 shares in the company, valued at $10,576,211.48. The trade was a 22.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total value of $2,571,555.00. Following the completion of the sale, the director now owns 8,881 shares of the company’s stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. Corporate insiders own 1.60% of the company’s stock.

Packaging Co. of America Price Performance

Shares of PKG stock opened at $247.03 on Friday. The stock’s 50-day moving average is $226.87 and its 200 day moving average is $203.86. Packaging Co. of America has a 1-year low of $156.87 and a 1-year high of $250.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The company has a market cap of $22.18 billion, a P/E ratio of 28.79, a PEG ratio of 3.47 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. Research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Packaging Co. of America Profile

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.