Concentric Capital Strategies LP Decreases Stock Holdings in Packaging Co. of America (NYSE:PKG)

Concentric Capital Strategies LP lowered its position in shares of Packaging Co. of America (NYSE:PKG) by 23.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,658 shares of the industrial products company’s stock after selling 15,378 shares during the period. Concentric Capital Strategies LP owned about 0.06% of Packaging Co. of America worth $10,912,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PKG. Cetera Investment Advisers increased its holdings in Packaging Co. of America by 981.4% during the 1st quarter. Cetera Investment Advisers now owns 19,109 shares of the industrial products company’s stock valued at $3,626,000 after purchasing an additional 17,342 shares during the period. Cetera Advisors LLC increased its stake in shares of Packaging Co. of America by 33.0% during the first quarter. Cetera Advisors LLC now owns 2,535 shares of the industrial products company’s stock valued at $481,000 after buying an additional 629 shares during the period. GAMMA Investing LLC raised its holdings in shares of Packaging Co. of America by 42.3% during the second quarter. GAMMA Investing LLC now owns 1,208 shares of the industrial products company’s stock valued at $221,000 after acquiring an additional 359 shares in the last quarter. DNB Asset Management AS lifted its stake in Packaging Co. of America by 11.3% in the second quarter. DNB Asset Management AS now owns 16,247 shares of the industrial products company’s stock worth $2,966,000 after acquiring an additional 1,652 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Packaging Co. of America in the second quarter valued at $62,000. Institutional investors own 89.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research note 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. Truist Financial restated 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 note on Thursday, October 24th. Finally, Citigroup increased their price objective 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $221.60.

Packaging Co. of America Trading Up 0.7 %

Packaging Co. of America stock opened at $248.85 on Monday. Packaging Co. of America has a 12 month low of $159.57 and a 12 month 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’s fifty day simple moving average is $228.21 and its two-hundred day simple moving average is $204.79. The company has a current ratio of 2.95, a quick ratio of 1.98 and a debt-to-equity ratio of 0.58.

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, beating the consensus estimate of $2.50 by $0.15. The company had revenue of $2.18 billion for 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 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 analysts predict that Packaging Co. of America will post 9.07 earnings per share for the current fiscal year.

Insider Activity at Packaging Co. of America

In other Packaging Co. of America news, CFO Robert P. Mundy sold 12,500 shares of Packaging Co. of America stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $240.62, for a total value of $3,007,750.00. Following the completion of the sale, the chief financial officer now owns 43,954 shares of the company’s stock, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald R. Shirley sold 8,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the transaction, the senior vice president now directly owns 15,725 shares in the company, valued at $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 corporate insiders.

About Packaging Co. of America

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.