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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Packaging Co. of America (NYSE:PKG) by 24.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 443,970 shares of the industrial products company’s stock after selling 142,569 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Packaging Co. of America were worth $95,631,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fiduciary Trust Co increased its position in Packaging Co. of America by 2.0% in the third quarter. Fiduciary Trust Co now owns 3,367 shares of the industrial products company’s stock worth $725,000 after buying an additional 66 shares during the period. De Lisle Partners LLP bought a new position in shares of Packaging Co. of America during the third quarter worth about $495,000. CreativeOne Wealth LLC grew its position in shares of Packaging Co. of America by 91.1% during the third quarter. CreativeOne Wealth LLC now owns 3,774 shares of the industrial products company’s stock worth $813,000 after acquiring an additional 1,799 shares during the last quarter. Townsquare Capital LLC boosted its stake in Packaging Co. of America by 7.8% during the 3rd quarter. Townsquare Capital LLC now owns 2,791 shares of the industrial products company’s stock valued at $601,000 after purchasing an additional 201 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in Packaging Co. of America by 24.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 121,641 shares of the industrial products company’s stock valued at $26,201,000 after purchasing an additional 23,683 shares during the period. Institutional investors and hedge funds own 89.78% of the company’s stock.

Packaging Co. of America Stock Performance

PKG opened at $248.85 on Monday. Packaging Co. of America has a 1-year low of $159.57 and a 1-year high of $250.82. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 29.00, a price-to-earnings-growth ratio of 3.49 and a beta of 0.76. The business has a 50 day moving average price of $228.21 and a two-hundred day moving average price of $204.79. 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) last announced 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. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Research analysts predict that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Activity

In other 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 transaction of $1,921,600.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction on 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 transaction, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This trade represents a 54.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,000 shares of company stock worth $7,500,905. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PKG. Citigroup raised their price target 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. Wells Fargo & Company raised their target price on 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 lowered Packaging Co. of America from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Finally, Truist Financial reissued a “buy” rating and issued a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Packaging Co. of America has a consensus rating of “Hold” and a consensus price target of $221.60.

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.