Investment Management Corp of Ontario Has $1.19 Million Stock Position in Packaging Co. of America (NYSE:PKG)

Investment Management Corp of Ontario lifted its stake in shares of Packaging Co. of America (NYSE:PKG) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,517 shares of the industrial products company’s stock after buying an additional 1,000 shares during the period. Investment Management Corp of Ontario’s holdings in Packaging Co. of America were worth $1,188,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Deseret Mutual Benefit Administrators increased its holdings in Packaging Co. of America by 15.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 371 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 49 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Packaging Co. of America by 1.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after buying an additional 54 shares during the last quarter. Huntington National Bank raised its holdings in Packaging Co. of America by 0.5% in the 3rd quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after buying an additional 55 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Packaging Co. of America by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after buying an additional 56 shares during the period. Finally, Moors & Cabot Inc. grew its holdings in Packaging Co. of America by 2.1% during the 2nd quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after acquiring an additional 56 shares during the last quarter. 89.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Packaging Co. of America

In other Packaging Co. of America news, Director Paul T. Stecko sold 10,500 shares of the firm’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 value 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 approximately $2,175,045.71. This trade represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible 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 completion of the transaction, the chief financial officer now owns 43,954 shares in the company, 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. Over the last ninety days, insiders sold 33,300 shares of company stock valued at $8,064,152. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PKG. Wells Fargo & Company lifted their price target on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Citigroup lifted 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. 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. Finally, StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.60.

Packaging Co. of America Stock Up 0.1 %

Shares of Packaging Co. of America stock opened at $244.25 on Friday. The stock’s 50-day moving average is $230.58 and its 200 day moving average is $206.35. Packaging Co. of America has a one year low of $159.57 and a one year high of $250.82. The firm has a market cap of $21.94 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 3.43 and a beta of 0.77. 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 EPS for the quarter, topping 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 company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. Equities research analysts anticipate that Packaging Co. of America will post 9.07 EPS for the current year.

Packaging Co. of America Company 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.