Townsquare Capital LLC Boosts Position in Packaging Co. of America (NYSE:PKG)

Townsquare Capital LLC raised its stake in Packaging Co. of America (NYSE:PKG) by 7.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,791 shares of the industrial products company’s stock after acquiring an additional 201 shares during the period. Townsquare Capital LLC’s holdings in Packaging Co. of America were worth $601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its holdings in shares of 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 valued at $80,000 after buying an additional 49 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Packaging Co. of America by 1.4% in the second quarter. Coldstream Capital Management Inc. now owns 3,859 shares of the industrial products company’s stock valued at $704,000 after acquiring an additional 54 shares during the last quarter. Huntington National Bank boosted its stake in Packaging Co. of America by 0.5% in the third quarter. Huntington National Bank now owns 10,075 shares of the industrial products company’s stock valued at $2,170,000 after acquiring an additional 55 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Packaging Co. of America by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 9,713 shares of the industrial products company’s stock worth $1,773,000 after purchasing an additional 56 shares during the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Packaging Co. of America by 2.1% during the second quarter. Moors & Cabot Inc. now owns 2,689 shares of the industrial products company’s stock worth $491,000 after purchasing an additional 56 shares in the last quarter. Institutional investors and hedge funds own 89.78% of the company’s stock.

Insider Activity at Packaging Co. of America

In other news, Director Paul T. Stecko sold 10,500 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were 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 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 disclosure for this sale can be found here. Insiders sold a total of 31,000 shares of company stock worth $7,500,905 over the last 90 days. Company insiders own 1.70% of the company’s stock.

Packaging Co. of America Price Performance

Packaging Co. of America stock opened at $244.14 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The business has a 50 day simple moving average of $228.82 and a 200-day simple moving average of $205.39. Packaging Co. of America has a 12 month low of $159.57 and a 12 month high of $250.82. The stock has a market capitalization of $21.93 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.44 and a beta of 0.77.

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 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 net margin of 9.46% and a return on equity of 19.10%. Packaging Co. of America’s quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. Equities analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current year.

Analyst Ratings Changes

PKG has been the subject of a number of research analyst reports. StockNews.com raised Packaging Co. of America from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $252.00 target price (up from $242.00) on shares of Packaging Co. of America in a research report on Thursday, October 24th. Citigroup upped 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 report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Packaging Co. of America presently has a consensus rating of “Moderate Buy” and an average price target of $221.60.

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.