Quarry LP raised its holdings in shares of Packaging Co. of America (NYSE:PKG – Free Report) by 422.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,720 shares of the industrial products company’s stock after acquiring an additional 2,199 shares during the period. Quarry LP’s holdings in Packaging Co. of America were worth $586,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Asset Dedication LLC increased its position in shares of Packaging Co. of America by 200.0% in the 2nd quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock valued at $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of Packaging Co. of America in the 3rd quarter valued at $32,000. Tortoise Investment Management LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $33,000. Larson Financial Group LLC increased its position in shares of Packaging Co. of America by 234.7% in the 3rd quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in shares of Packaging Co. of America in the 2nd quarter valued at $50,000. Institutional investors own 89.78% of the company’s stock.
Insider Transactions at Packaging Co. of America
In other news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total transaction of $1,921,600.00. Following the completion of the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Joseph Vaughn sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $244.89, for a total transaction of $563,247.00. Following the completion of the sale, the senior vice president now owns 9,197 shares of the company’s stock, valued at $2,252,253.33. This trade represents a 20.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,300 shares of company stock worth $8,064,152 in the last three months. Insiders own 1.60% of the company’s stock.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on Packaging Co. of America
Packaging Co. of America Price Performance
Shares of NYSE PKG opened at $243.99 on Thursday. The firm has a market cap of $21.91 billion, a PE ratio of 28.44, a PEG ratio of 3.43 and a beta of 0.77. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a fifty day moving average price of $229.40 and a 200 day moving average price of $205.82.
Packaging Co. of America (NYSE:PKG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.15. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $2.05 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Research analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal 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.
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