Packaging Co. of America (NYSE:PKG) Shares Acquired by Quest Partners LLC

Quest Partners LLC grew its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 256.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,729 shares of the industrial products company's stock after buying an additional 5,560 shares during the period. Quest Partners LLC's holdings in Packaging Co. of America were worth $1,665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PKG. Asset Dedication LLC grew its stake in 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 worth $31,000 after buying an additional 112 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Packaging Co. of America in the 3rd quarter worth about $32,000. Tortoise Investment Management LLC purchased a new stake in shares of Packaging Co. of America in the 2nd quarter worth about $33,000. Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America in the 2nd quarter worth about $50,000. Finally, Assetmark Inc. grew its position in Packaging Co. of America by 44.6% during the 3rd quarter. Assetmark Inc. now owns 269 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 89.78% of the company's stock.

Packaging Co. of America Stock Performance

NYSE:PKG traded up $0.20 during trading hours on Tuesday, reaching $238.31. The company had a trading volume of 333,234 shares, compared to its average volume of 600,022. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00. The firm has a market cap of $21.40 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76. The business's 50 day moving average price is $221.90 and its 200-day moving average price is $200.74. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98.

Packaging Co. of America (NYSE:PKG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 earnings per share (EPS) 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 the consensus estimate of $2.09 billion. Packaging Co. of America had a return on equity of 19.10% and a net margin of 9.46%. Packaging Co. of America's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. Research analysts forecast that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date was Monday, September 16th. Packaging Co. of America's payout ratio is 58.28%.

Analyst Ratings Changes

Several analysts recently commented on PKG shares. StockNews.com raised shares of Packaging Co. of America from a "hold" rating to a "buy" rating in a research report on Tuesday, November 12th. 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 note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, 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 report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $221.60.

Insider Transactions at Packaging Co. of America

In other news, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was 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 approximately $3,777,145. This represents a 33.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction on Friday, November 8th. The stock was 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 owns 43,954 shares of the company's stock, valued at approximately $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. Corporate insiders own 1.70% of the company's stock.

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.