Quarry LP Has $586,000 Stake in Packaging Co. of America (NYSE:PKG)

Quarry LP boosted its position in Packaging Co. of America (NYSE:PKG - Free Report) by 422.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,720 shares of the industrial products company's stock after buying an additional 2,199 shares during the quarter. Quarry LP's holdings in Packaging Co. of America were worth $586,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PKG. Summit Financial Strategies Inc. increased its position in Packaging Co. of America by 5.5% during the second quarter. Summit Financial Strategies Inc. now owns 234,495 shares of the industrial products company's stock worth $42,809,000 after acquiring an additional 12,129 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Packaging Co. of America by 227.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company's stock valued at $6,945,000 after buying an additional 22,397 shares during the last quarter. M&G Plc bought a new stake in shares of Packaging Co. of America in the second quarter valued at about $840,000. Dai ichi Life Insurance Company Ltd grew its position in Packaging Co. of America by 10.5% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 35,193 shares of the industrial products company's stock worth $6,425,000 after buying an additional 3,355 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Packaging Co. of America by 22.7% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 33,401 shares of the industrial products company's stock valued at $6,098,000 after acquiring an additional 6,184 shares during the period. Institutional investors and hedge funds own 89.78% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Truist Financial reiterated a "buy" rating and issued a $252.00 price objective (up previously from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Wells Fargo & Company boosted 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. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a report on Tuesday. 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 research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $221.60.

Packaging Co. of America Price Performance

PKG stock traded down $0.02 during trading on Thursday, hitting $243.97. 213,777 shares of the stock traded hands, compared to its average volume of 598,312. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 28.44, a P/E/G ratio of 3.43 and a beta of 0.77. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The company has a 50 day simple moving average of $229.99 and a 200 day simple moving average of $206.09.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its 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. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the previous year, the business earned $2.05 EPS. Packaging Co. of America's revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Activity

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul T. Stecko sold 10,500 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,300 shares of company stock worth $8,064,152. 1.60% of the stock is owned by corporate insiders.

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.