Packaging Co. of America (NYSE:PKG) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P cut its holdings in shares of Packaging Co. of America (NYSE:PKG) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,406 shares of the industrial products company’s stock after selling 127 shares during the quarter. Martingale Asset Management L P’s holdings in Packaging Co. of America were worth $734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cetera Investment Advisers boosted its holdings in Packaging Co. of America by 981.4% in 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 boosted its stake in shares of Packaging Co. of America by 33.0% in the 1st quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company’s stock valued at $481,000 after buying an additional 629 shares during the period. GAMMA Investing LLC grew its position in shares of Packaging Co. of America by 42.3% during the second quarter. GAMMA Investing LLC now owns 1,208 shares of the industrial products company’s stock worth $221,000 after buying an additional 359 shares in the last quarter. DNB Asset Management AS raised its holdings in Packaging Co. of America by 11.3% in the second quarter. DNB Asset Management AS now owns 16,247 shares of the industrial products company’s stock valued at $2,966,000 after acquiring an additional 1,652 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Packaging Co. of America in the second quarter valued at approximately $62,000. Hedge funds and other institutional investors own 89.78% of the company’s stock.

Insider Activity 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 that occurred 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 completion of the sale, the chief financial officer now directly owns 43,954 shares of the company’s stock, valued at $10,576,211.48. This represents a 22.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction that occurred 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 owns 15,725 shares in the company, valued at $3,777,145. This trade 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 in the last 90 days. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

PKG has been the topic of a number of recent analyst reports. Truist Financial reissued a “buy” rating and issued a $252.00 price objective (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company increased their target price 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. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Citigroup increased their price objective 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $221.60.

Packaging Co. of America Stock Down 1.6 %

PKG opened at $244.89 on Tuesday. The stock has a market capitalization of $21.99 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 3.49 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.98 and a current ratio of 2.95. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The business’s 50-day simple moving average is $228.21 and its 200-day simple moving average is $204.95.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. Analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

About Packaging Co. of America

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.