Packaging Co. of America (NYSE:PKG) Shares Acquired by Private Trust Co. NA

Private Trust Co. NA boosted its position in Packaging Co. of America (NYSE:PKG) by 21.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,090 shares of the industrial products company’s stock after purchasing an additional 195 shares during the period. 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 large investors have also recently bought and sold shares of PKG. Virtu Financial LLC lifted its stake in Packaging Co. of America by 60.3% during the 1st quarter. Virtu Financial LLC now owns 5,300 shares of the industrial products company’s stock valued at $1,006,000 after acquiring an additional 1,993 shares during the period. Cetera Investment Advisers lifted its position in Packaging Co. of America by 981.4% during the first quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company’s stock valued at $3,626,000 after purchasing an additional 17,342 shares during the period. Cetera Advisors LLC lifted its position in Packaging Co. of America by 33.0% during the first quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company’s stock valued at $481,000 after purchasing an additional 629 shares during the period. Boston Partners boosted its holdings in 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 valued at $274,421,000 after purchasing an additional 477,487 shares during the last quarter. Finally, Cambridge Trust Co. grew its position in Packaging Co. of America by 25.0% during the 1st quarter. Cambridge Trust Co. now owns 500 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Buying and Selling

In other news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $240.62, for a total value of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly 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. In the last three months, insiders have sold 31,000 shares of company stock worth $7,500,905. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. 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 report on Thursday, October 24th. Wells Fargo & Company upped their price objective on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com lowered shares of Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Citigroup increased their price target on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Stock Down 0.4 %

Packaging Co. of America stock opened at $247.03 on Friday. 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 stock has a market capitalization of $22.18 billion, a PE ratio of 28.79, a price-to-earnings-growth ratio of 3.47 and a beta of 0.76. The business has a 50 day simple moving average of $226.87 and a 200-day simple moving average of $203.86. Packaging Co. of America has a 12 month low of $156.87 and a 12 month high of $250.82.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts anticipate that Packaging Co. of America will post 9.07 EPS 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.