UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Trims Stake in Packaging Co. of America (NYSE:PKG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Packaging Co. of America (NYSE:PKG - Free Report) by 24.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,970 shares of the industrial products company's stock after selling 142,569 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.49% of Packaging Co. of America worth $95,631,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cetera Investment Advisers increased its stake in shares of Packaging Co. of America by 981.4% during the 1st quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company's stock worth $3,626,000 after purchasing an additional 17,342 shares during the last quarter. Cetera Advisors LLC raised its position in Packaging Co. of America by 33.0% in the 1st 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 grew its holdings in Packaging Co. of America by 42.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,208 shares of the industrial products company's stock worth $221,000 after acquiring an additional 359 shares during the last quarter. DNB Asset Management AS lifted its position in shares of Packaging Co. of America by 11.3% during the second 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Packaging Co. of America during the 2nd quarter worth $62,000. Institutional investors own 89.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PKG shares. Citigroup raised their target price on Packaging Co. of America from $199.00 to $221.00 and gave the stock a "neutral" rating in a report on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on 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 cut shares of Packaging Co. of America from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $252.00 target price (up previously from $242.00) on shares of Packaging Co. of America in a research 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.com, the stock presently has an average rating of "Hold" and an average target price of $221.60.

Packaging Co. of America Stock Down 1.6 %

PKG traded down $3.96 during midday trading on Monday, reaching $244.89. 653,737 shares of the company were exchanged, compared to its average volume of 601,125. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. 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 company's fifty day moving average price is $228.21 and its 200 day moving average price is $204.95. The company has a market cap of $21.99 billion, a price-to-earnings ratio of 28.93, a price-to-earnings-growth ratio of 3.49 and a beta of 0.76.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion for 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%. The company's revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. As a group, analysts expect that Packaging Co. of America will post 9.07 EPS for the current year.

Insider Buying and Selling at Packaging Co. of America

In other news, 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 value of $2,571,555.00. Following the completion of the sale, the director now directly owns 8,881 shares of the company's stock, valued at approximately $2,175,045.71. This trade represents a 54.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Donald R. Shirley sold 8,000 shares of the firm's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares of the company's stock, valued at $3,777,145. This represents a 33.72 % decrease in their position. 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 quarter. 1.60% of the stock is currently 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.