Packaging Corporation of America (PKG) : The short interest in Packaging Corporation of America (PKG) has increased from 3,681,523 to 3,881,087 from Jul 29, 2016, to August 15, 2016, indicating that the traders are bearish on the stock. On an average, 692,741 shares are traded daily in the stock and only 6 days are left for the shorts to cover. The short open interest is 4.2% of the total shares in the hands of the public. The shorts in the stock have gone up by 199,564 shares, which is an increase of 5.4% over the previous reading. The short interest information was released on Wednesday Aug 24th after the market close.
Packaging Corporation of America (NYSE:PKG): The stock opened at $77.09 on Wednesday but the bulls could not build on the opening and the stock topped out at $77.48 for the day. The stock traded down to $75.88 during the day, due to lack of any buying support eventually closed down at $76.01 with a loss of -1.40% for the day. The stock had closed at $77.09 on the previous day. The total traded volume was 565,734 shares.
In a related news, The Securities and Exchange Commission has divulged that Walton Thomas W.H., officer (SVP) of Packaging Corp Of America, had unloaded 9,000 shares at an average price of $73.64 in a transaction dated on July 22, 2016. The total value of the transaction was worth $662,760.
Packaging Corporation of America (PCA) is a producer of containerboard and white papers. The Company operates eight mills and 99 corrugated products manufacturing plants. The Companys operations are primarily in the United States and it has converting operations in Europe, Mexico, and Canada. The Company operates through three segments: Packaging, Paper, and Corporate and Other. The Companys corrugated products manufacturing plants produce a variety of corrugated packaging products, including shipping containers used to protect and transport manufactured goods, multi-color boxes, and displays. It manufactures its Packaging products at five containerboard mills, one containerboard machine, corrugated manufacturing operations, and protective packaging operations. Its Paper segment manufactures and sells white papers. Its Corporate and Other segment includes corporate support staff services and related assets and liabilities, and foreign exchange gains and losses.