Resources Management Corp CT ADV Takes $1.68 Million Position in Packaging Corp Of America (NYSE:PKG)

Resources Management Corp CT ADV bought a new position in Packaging Corp Of America (NYSE:PKG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,866 shares of the industrial products company’s stock, valued at approximately $1,683,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in Packaging Corp Of America by 774.2% in the 2nd quarter. Parallel Advisors LLC now owns 271 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 240 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Packaging Corp Of America during the second quarter valued at about $35,000. Motco increased its holdings in shares of Packaging Corp Of America by 126.3% in the second quarter. Motco now owns 405 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 226 shares during the last quarter. Horan Capital Advisors LLC. bought a new stake in shares of Packaging Corp Of America in the third quarter worth about $44,000. Finally, First Mercantile Trust Co. purchased a new stake in shares of Packaging Corp Of America in the second quarter worth about $40,000. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Bruce A. Ridley sold 1,900 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $112.92, for a total transaction of $214,548.00. Following the transaction, the senior vice president now directly owns 17,589 shares in the company, valued at approximately $1,986,149.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Shares of NYSE:PKG traded up $0.44 during trading on Wednesday, hitting $111.18. The company had a trading volume of 733,788 shares, compared to its average volume of 877,511. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 2.93 and a beta of 1.68. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.28 and a quick ratio of 2.24. The company has a fifty day simple moving average of $111.12 and a two-hundred day simple moving average of $102.19. Packaging Corp Of America has a one year low of $77.90 and a one year high of $114.78.

Packaging Corp Of America (NYSE:PKG) last released its earnings results on Wednesday, October 23rd. The industrial products company reported $1.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.02. Packaging Corp Of America had a return on equity of 26.92% and a net margin of 10.94%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the company posted $2.23 EPS. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Packaging Corp Of America will post 7.64 earnings per share for the current year.

PKG has been the subject of a number of research reports. Zacks Investment Research lowered Packaging Corp Of America from a “hold” rating to a “sell” rating and set a $116.00 price target for the company. in a research note on Monday, October 14th. Exane BNP Paribas started coverage on shares of Packaging Corp Of America in a research report on Monday. They issued a “neutral” rating and a $118.00 price target on the stock. Bank of America boosted their price target on shares of Packaging Corp Of America from $108.00 to $112.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. ValuEngine downgraded shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research note on Monday, October 7th. Finally, Vertical Research lowered shares of Packaging Corp Of America from a “buy” rating to a “hold” rating and set a $117.00 price objective for the company. in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Packaging Corp Of America has an average rating of “Hold” and a consensus price target of $108.50.

About Packaging Corp Of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products primarily in the United States. The company's Packaging segment offers various 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.

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Institutional Ownership by Quarter for Packaging Corp Of America (NYSE:PKG)

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