Alps Advisors Inc. Takes $456,000 Position in Packaging Corp Of America (PKG)

Alps Advisors Inc. bought a new stake in Packaging Corp Of America (NYSE:PKG) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,979 shares of the industrial products company’s stock, valued at approximately $456,000.

Several other institutional investors also recently modified their holdings of PKG. Jennison Associates LLC acquired a new stake in Packaging Corp Of America in the 3rd quarter valued at about $575,000. Candriam Luxembourg S.C.A. boosted its stake in shares of Packaging Corp Of America by 777.5% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 38,313 shares of the industrial products company’s stock worth $4,394,000 after purchasing an additional 33,947 shares during the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Packaging Corp Of America by 3.1% in the third quarter. GHP Investment Advisors Inc. now owns 38,259 shares of the industrial products company’s stock worth $4,387,000 after acquiring an additional 1,151 shares during the last quarter. Swiss National Bank boosted its position in shares of Packaging Corp Of America by 1.0% in the third quarter. Swiss National Bank now owns 347,000 shares of the industrial products company’s stock worth $39,794,000 after acquiring an additional 3,300 shares during the last quarter. Finally, World Asset Management Inc boosted its position in shares of Packaging Corp Of America by 29.2% in the third quarter. World Asset Management Inc now owns 9,245 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 2,087 shares during the last quarter. Institutional investors and hedge funds own 90.24% of the company’s stock.

Shares of Packaging Corp Of America (NYSE:PKG) traded down $0.42 during midday trading on Wednesday, hitting $117.34. The company had a trading volume of 520,935 shares, compared to its average volume of 888,419. Packaging Corp Of America has a twelve month low of $84.01 and a twelve month high of $120.75. The firm has a market capitalization of $11,219.22, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.81. The company has a quick ratio of 1.49, a current ratio of 2.45 and a debt-to-equity ratio of 1.30.

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

PKG has been the topic of a number of analyst reports. KeyCorp reiterated a “hold” rating on shares of Packaging Corp Of America in a research note on Wednesday, October 18th. Zacks Investment Research downgraded shares of Packaging Corp Of America from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Jefferies Group reaffirmed a “buy” rating and issued a $128.00 price objective on shares of Packaging Corp Of America in a report on Friday, August 18th. Vertical Research reissued a “buy” rating and set a $124.00 price target (up previously from $118.00) on shares of Packaging Corp Of America in a report on Wednesday, August 23rd. Finally, Barclays boosted their price target on shares of Packaging Corp Of America from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, October 30th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $117.36.

In other Packaging Corp Of America news, Director Jason Wayne Moreau purchased 1,326,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The shares were bought at an average price of $0.06 per share, with a total value of $79,560.00. Also, VP Thomas A. Hassfurther sold 6,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $117.94, for a total value of $707,640.00. Following the transaction, the vice president now owns 155,071 shares of the company’s stock, valued at $18,289,073.74. The disclosure for this sale can be found here. Insiders sold 73,177 shares of company stock worth $2,135,172 in the last three months. Insiders own 1.20% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Alps Advisors Inc. Takes $456,000 Position in Packaging Corp Of America (PKG)” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://stocknewstimes.com/2017/12/06/alps-advisors-inc-invests-456000-in-packaging-corporation-of-america-pkg.html.

About Packaging Corp Of America

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.

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

Receive News & Ratings for Packaging Corp Of America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Packaging Corp Of America and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply