{
  "id": 1214123,
  "title": "Packaging Corp president Hassfurther sells $1.79 million in stock",
  "url": "https://urgent.news/2026/08/16/packaging-corp-president-hassfurther-sells-1-79-million-in-stock",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-16T05:46:03.000Z",
  "source": {
    "name": "Investing.com",
    "slug": "investing-com",
    "url": "https://www.investing.com/news/insider-trading-news/packaging-corp-president-hassfurther-sells-179-million-in-stock-93CH-4861916"
  },
  "original_language": "en",
  "account": "Thomas A. Hassfurther, president of Packaging Corporation of America (PKG), divested a significant portion of his stock on August 7, 2026. He sold 7,063 shares at $254.00 per share, generating $1,794,002 from the transaction. PKG's stock was trading near its 52-week high of $259.98 at the time, having increased by 35% over the past year.\n\nInvestingPro analysis suggested the stock was overvalued, trading at a P/E ratio of 33.3, which is higher than its estimated fair value. After this sale, Mr. Hassfurther personally held 202,891 shares, while 12,176 shares remained in a 401(k) plan. Additionally, 53,862 shares were held indirectly by his spouse, though Mr. Hassfurther denied having any beneficial interest in them. An investment entity also held 34,293 shares, with Mr. Hassfurther once again disclaiming any beneficial ownership except for his financial stake.\n\nThe sale came amid strong performance at PKG, with its second-quarter adjusted earnings at $2.35 per share, exceeding expectations of $2.31. Revenue for the quarter was $2.49 billion, matching projections. Despite facing higher costs due to freight, recycled fiber, and outages, the company's shipments rose by 24% year-over-year. UBS raised its price target for PKG to $292 from $271, maintaining a Buy rating. This adjustment followed PKG's announcement of a substantial $140 per ton containerboard price increase, effective September 1, which is unprecedented compared to historical increases of $50 to $70.\n\nThese developments underscore PKG's robust market position and strategic pricing adjustments.",
  "summary": null,
  "key_points": [
    "Packaging Corp President Thomas Hassfurther sold $1.79 million in stock on August 7, 2026.",
    "He sold 7,063 shares at $254.00 per share, generating $1,794,002.",
    "PKG's stock was near its 52-week high of $259.98 at the time."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}