Packaging Co. of America (NYSE:PKG) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its position in shares of Packaging Co. of America (NYSE:PKG - Free Report) by 48.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,565 shares of the industrial products company's stock after selling 6,249 shares during the period. Intech Investment Management LLC's holdings in Packaging Co. of America were worth $1,414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PKG. Asset Dedication LLC raised 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 purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Packaging Co. of America in the third quarter valued at $32,000. Tortoise Investment Management LLC bought a new position in Packaging Co. of America during the 2nd quarter valued at $33,000. Strategic Financial Concepts LLC acquired a new position in Packaging Co. of America during the 2nd quarter worth $50,000. Finally, Assetmark Inc. increased its position in shares of Packaging Co. of America by 44.6% in the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock worth $58,000 after purchasing an additional 83 shares during the last quarter. Institutional investors and hedge funds own 89.78% of the company's stock.

Insider Buying and Selling

In related news, Director Paul T. Stecko sold 10,500 shares of the business's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now owns 8,881 shares of the company's stock, valued at $2,175,045.71. The trade was a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 43,954 shares of the company's stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,000 shares of company stock valued at $7,500,905 in the last three months. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PKG. Truist Financial reaffirmed a "buy" rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. StockNews.com lowered Packaging Co. of America from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Citigroup increased their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $221.60.

Packaging Co. of America Stock Performance

Shares of PKG opened at $248.11 on Wednesday. The firm has a fifty day moving average of $225.48 and a 200-day moving average of $203.08. The company has a market cap of $22.28 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 3.47 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 1 year low of $153.58 and a 1 year high of $250.82.

Packaging Co. of America (NYSE:PKG - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the firm posted $2.05 EPS. Packaging Co. of America's quarterly revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts anticipate that Packaging Co. of America will post 9.07 earnings per share 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.