Hartford Investment Management Co. Takes $2.35 Million Position in Packaging Corp Of America (PKG)

Hartford Investment Management Co. bought a new position in shares of Packaging Corp Of America (NYSE:PKG) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 20,473 shares of the industrial products company’s stock, valued at approximately $2,348,000.

A number of other institutional investors have also modified their holdings of PKG. Toronto Dominion Bank lifted its position in shares of Packaging Corp Of America by 12.4% during the second quarter. Toronto Dominion Bank now owns 1,158 shares of the industrial products company’s stock valued at $129,000 after buying an additional 128 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Packaging Corp Of America by 84.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,451 shares of the industrial products company’s stock valued at $161,000 after buying an additional 665 shares during the last quarter. Creative Planning lifted its position in shares of Packaging Corp Of America by 7.9% during the second quarter. Creative Planning now owns 1,686 shares of the industrial products company’s stock valued at $188,000 after buying an additional 123 shares during the last quarter. Perpetual Ltd purchased a new stake in shares of Packaging Corp Of America during the second quarter valued at about $201,000. Finally, CAPROCK Group Inc. purchased a new stake in shares of Packaging Corp Of America during the second quarter valued at about $211,000. Institutional investors own 90.24% of the company’s stock.

PKG has been the subject of several analyst reports. Jefferies Group reissued a “buy” rating and set a $128.00 price target on shares of Packaging Corp Of America in a research report on Friday, August 18th. Vertical Research reaffirmed a “buy” rating and issued a $124.00 price objective (up from $118.00) on shares of Packaging Corp Of America in a research report on Wednesday, August 23rd. Zacks Investment Research raised shares of Packaging Corp Of America from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research report on Thursday, October 12th. Barclays increased their price objective on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, October 30th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Packaging Corp Of America in a research report on Wednesday, October 18th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $117.36.

In other news, SVP Charles J. Carter sold 6,150 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $117.04, for a total transaction of $719,796.00. Following the sale, the senior vice president now owns 24,265 shares of the company’s stock, valued at approximately $2,839,975.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Thomas W.H. Walton sold 6,027 shares of the firm’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $116.15, for a total transaction of $700,036.05. Following the sale, the senior vice president now directly owns 32,690 shares in the company, valued at approximately $3,796,943.50. The disclosure for this sale can be found here. Insiders have sold a total of 73,177 shares of company stock valued at $2,135,172 over the last three months. 1.20% of the stock is currently owned by insiders.

Packaging Corp Of America (NYSE:PKG) traded up $1.51 on Tuesday, reaching $118.91. 885,500 shares of the company’s stock were exchanged, compared to its average volume of 890,933. Packaging Corp Of America has a 12 month low of $84.01 and a 12 month high of $120.75. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30. The stock has a market cap of $11,140.00, a price-to-earnings ratio of 20.60, a PEG ratio of 2.35 and a beta of 1.81.

Packaging Corp Of America (NYSE:PKG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.01). Packaging Corp Of America had a return on equity of 29.38% and a net margin of 8.18%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. equities research analysts anticipate that Packaging Corp Of America will post 5.99 EPS for the current fiscal year.

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Packaging Corp Of America Profile

Packaging Corporation of America (PCA) is a producer of containerboard products and uncoated freesheet. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment produces a range of corrugated packaging products. The Paper segment manufactures and sells a range of papers, including communication-based papers and pressure sensitive papers.

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

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