Cerity Partners LLC Purchases 8,117 Shares of Packaging Co. of America (NYSE:PKG)

Cerity Partners LLC lifted its position in shares of Packaging Co. of America (NYSE:PKG) by 105.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,833 shares of the industrial products company’s stock after buying an additional 8,117 shares during the period. Cerity Partners LLC’s holdings in Packaging Co. of America were worth $3,410,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Meridian Wealth Management LLC acquired a new position in Packaging Co. of America during the 3rd quarter worth approximately $476,000. Citigroup Inc. boosted its holdings in Packaging Co. of America by 30.7% during the third quarter. Citigroup Inc. now owns 115,005 shares of the industrial products company’s stock worth $24,772,000 after purchasing an additional 27,018 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Packaging Co. of America by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,937,113 shares of the industrial products company’s stock valued at $632,654,000 after purchasing an additional 98,223 shares in the last quarter. Trustmark National Bank Trust Department acquired a new stake in Packaging Co. of America in the 3rd quarter valued at $277,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Packaging Co. of America by 227.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 32,243 shares of the industrial products company’s stock worth $6,945,000 after buying an additional 22,397 shares in the last quarter. 89.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PKG shares. 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. StockNews.com downgraded Packaging Co. of America from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Citigroup boosted their price objective on shares of Packaging Co. of America from $199.00 to $221.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their target price on Packaging Co. of America from $235.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Trading Up 0.7 %

Shares of NYSE:PKG opened at $248.66 on Friday. The stock has a market cap of $22.33 billion, a PE ratio of 28.79, a P/E/G ratio of 3.47 and a beta of 0.76. The company has a quick ratio of 1.98, a current ratio of 2.95 and a debt-to-equity ratio of 0.58. Packaging Co. of America has a 12-month low of $159.57 and a 12-month high of $250.82. The business has a 50 day moving average of $227.50 and a 200-day moving average of $204.16.

Packaging Co. of America (NYSE:PKG) last issued its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.15. The firm had revenue of $2.18 billion for 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 for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. As a group, equities research analysts forecast that Packaging Co. of America will post 9.07 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul T. Stecko sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $244.91, for a total transaction of $2,571,555.00. Following the sale, the director now owns 8,881 shares of the company’s stock, valued at $2,175,045.71. This represents a 54.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert P. Mundy sold 12,500 shares of the firm’s 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 in the company, valued at approximately $10,576,211.48. This trade represents a 22.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,000 shares of company stock valued at $7,500,905. 1.60% of the stock is owned by company insiders.

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.