Mutual of America Capital Management LLC lessened its stake in Packaging Co. of America (NYSE:PKG – Free Report) by 0.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,775 shares of the industrial products company’s stock after selling 133 shares during the period. Mutual of America Capital Management LLC’s holdings in Packaging Co. of America were worth $3,717,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. ETF Managers Group LLC boosted its holdings in Packaging Co. of America by 1.5% in the first quarter. ETF Managers Group LLC now owns 4,709 shares of the industrial products company’s stock valued at $654,000 after acquiring an additional 70 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in shares of Packaging Co. of America by 4.2% in the fourth quarter. AlphaMark Advisors LLC now owns 1,876 shares of the industrial products company’s stock valued at $240,000 after purchasing an additional 76 shares in the last quarter. Scotia Capital Inc. raised its holdings in shares of Packaging Co. of America by 1.6% in the fourth quarter. Scotia Capital Inc. now owns 4,921 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 79 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its position in Packaging Co. of America by 1.3% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 6,246 shares of the industrial products company’s stock valued at $975,000 after purchasing an additional 82 shares during the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its position in shares of Packaging Co. of America by 0.6% in the 1st quarter. Rowland & Co. Investment Counsel ADV now owns 13,783 shares of the industrial products company’s stock valued at $1,914,000 after acquiring an additional 84 shares during the period. 90.84% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts recently commented on PKG shares. UBS Group reduced their target price on shares of Packaging Co. of America from $137.00 to $132.00 in a report on Friday, June 30th. Truist Financial increased their target price on shares of Packaging Co. of America from $140.00 to $156.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. 22nd Century Group restated a “maintains” rating on shares of Packaging Co. of America in a report on Wednesday, April 26th. Citigroup raised their price objective on Packaging Co. of America from $128.00 to $148.00 in a research report on Thursday, July 27th. Finally, Bank of America dropped their price target on Packaging Co. of America from $145.00 to $138.00 in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $131.50.
Packaging Co. of America Stock Down 0.9 %
Packaging Co. of America (NYSE:PKG – Get Free Report) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.38. Packaging Co. of America had a net margin of 10.79% and a return on equity of 23.37%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business earned $3.23 earnings per share. The company’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Packaging Co. of America will post 8.14 EPS for the current year.
Insider Buying and Selling at Packaging Co. of America
In other news, VP Thomas A. Hassfurther sold 27,027 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $148.80, for a total value of $4,021,617.60. Following the completion of the transaction, the vice president now directly owns 198,121 shares of the company’s stock, valued at $29,480,404.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Thomas A. Hassfurther sold 27,027 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $148.80, for a total transaction of $4,021,617.60. Following the sale, the vice president now owns 198,121 shares of the company’s stock, valued at approximately $29,480,404.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 5,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $156.14, for a total transaction of $780,700.00. Following the completion of the transaction, the senior vice president now directly owns 22,967 shares of the company’s stock, valued at $3,586,067.38. The disclosure for this sale can be found here. Insiders have sold 59,783 shares of company stock valued at $9,023,216 in the last 90 days. 1.60% of the stock is currently 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 Packaging and Paper segments. 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.
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