30,100 Shares in Packaging Co. of America (NYSE:PKG) Bought by Erste Asset Management GmbH

Erste Asset Management GmbH bought a new position in shares of Packaging Co. of America (NYSE:PKG - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 30,100 shares of the industrial products company's stock, valued at approximately $6,493,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PKG. Cetera Investment Advisers lifted its stake 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 last quarter. Cetera Advisors LLC lifted its holdings in shares of 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 last quarter. GAMMA Investing LLC increased 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 valued at $221,000 after acquiring an additional 359 shares in the last quarter. DNB Asset Management AS grew its position in Packaging Co. of America by 11.3% in the 2nd quarter. DNB Asset Management AS now owns 16,247 shares of the industrial products company's stock worth $2,966,000 after purchasing an additional 1,652 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Packaging Co. of America in the 2nd quarter worth $62,000. 89.78% of the stock is owned by institutional investors and hedge funds.

Packaging Co. of America Stock Performance

Packaging Co. of America stock traded down $0.66 during trading hours on Tuesday, reaching $244.14. 495,982 shares of the stock were exchanged, compared to its average volume of 600,673. The firm's 50 day moving average is $228.82 and its 200 day moving average is $205.39. 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 stock has a market cap of $21.93 billion, a P/E ratio of 28.45, a P/E/G ratio of 3.44 and a beta of 0.77. Packaging Co. of America has a 52-week low of $159.57 and a 52-week high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the company earned $2.05 earnings per share. Analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PKG shares. Wells Fargo & Company upped their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday. Citigroup increased their price objective on shares of 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. Finally, Truist Financial restated a "buy" rating and issued a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $221.60.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the senior vice president now directly owns 15,725 shares of the company's stock, valued at $3,777,145. This trade represents a 33.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the transaction, 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 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 worth $7,500,905. 1.70% of the stock is owned by corporate insiders.

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.