Loomis Sayles & Co. L P Boosts Stock Holdings in Packaging Co. of America (NYSE:PKG)

Loomis Sayles & Co. L P raised its position in shares of Packaging Co. of America (NYSE:PKG) by 7.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,869 shares of the industrial products company’s stock after acquiring an additional 5,361 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.09% of Packaging Co. of America worth $17,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Partners raised its stake in Packaging Co. of America by 49.3% in the 1st quarter. Boston Partners now owns 1,446,303 shares of the industrial products company’s stock valued at $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Millennium Management LLC raised its position in shares of Packaging Co. of America by 34.3% in the second 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 last quarter. AQR Capital Management LLC lifted its stake in shares of Packaging Co. of America by 164.3% in the second quarter. AQR Capital Management LLC now owns 401,360 shares of the industrial products company’s stock worth $73,272,000 after buying an additional 249,483 shares in the last quarter. International Assets Investment Management LLC boosted its position in 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 last quarter. Finally, Mizuho Securities USA LLC grew its stake in Packaging Co. of America by 1,800.2% during the 3rd 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.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the company’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. This represents a 22.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. This represents a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $7,500,905 over the last three months. Insiders own 1.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PKG. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Citigroup upped their target price on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Finally, Truist Financial reiterated a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Trading Up 0.3 %

Shares of Packaging Co. of America stock opened at $248.11 on Wednesday. Packaging Co. of America has a fifty-two week low of $153.58 and a fifty-two week high of $250.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. The firm has a market capitalization of $22.28 billion, a price-to-earnings ratio of 28.92, a PEG ratio of 3.47 and a beta of 0.76. The stock has a 50 day moving average of $225.48 and a 200 day moving average of $203.08.

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, topping analysts’ consensus estimates of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. As a group, research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Packaging Co. of America Company 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.