Quest Partners LLC Increases Stake in Packaging Co. of America (PKG)

2 min read | November 19, 2024 04:50 AM PST | By Team Kalkine Media

Quest Partners LLC Increases Stake in Packaging Co. of America (PKG) — Image source: Shutterstock

Headlines

Quest Partners LLC boosts stake in Packaging Co. of America (PKG)
Hedge fund activities show growing interest in Packaging Co. of America
Packaging Co. of America sees significant institutional support

Quest Partners LLC has expanded its position in Packaging Co. of America (NYSE:PKG), increasing its holdings by over 250% in the third quarter. The firm acquired an additional 5,560 shares, bringing its total ownership to 7,729 shares. As of the latest filings, Quest Partners’ investment in the industrial products company was valued at approximately $1.7 million.

This move aligns with a broader trend seen across multiple hedge funds, as institutional interest in Packaging Co. of America continues to rise. Notably, Boston Partners made a significant boost to its stake, increasing its holdings by nearly 50%. The firm now owns over 1.4 million shares, with a valuation surpassing $270 million.

Similarly, Millennium Management raised its position by 34%, now holding more than 1 million shares. AQR Capital Management followed suit, growing its stake by over 160%, while International Assets Investment Management’s investment surged by over 41,000%. Furthermore, Mizuho Securities USA raised its holdings by an astonishing 1,800%, amassing 130,583 shares.

This growing institutional support underscores the confidence in Packaging Co. of America as a prominent player in the industrial sector. Hedge funds now collectively own nearly 90% of the company’s stock, indicating strong institutional backing and ongoing confidence in its business prospects.

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