KapStone Paper and Packaging Corporation (NYSE:KS) Shares Sold by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY decreased its position in KapStone Paper and Packaging Corporation (NYSE:KS) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,096 shares of the basic materials company’s stock after selling 1,802 shares during the period. Metropolitan Life Insurance Co. NY owned 0.06% of KapStone Paper and Packaging Corporation worth $1,319,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in KapStone Paper and Packaging Corporation during the fourth quarter worth $25,933,000. State Street Corp increased its stake in KapStone Paper and Packaging Corporation by 0.9% in the first quarter. State Street Corp now owns 2,045,971 shares of the basic materials company’s stock worth $47,263,000 after buying an additional 18,772 shares during the period. Great West Life Assurance Co. Can increased its stake in KapStone Paper and Packaging Corporation by 2.1% in the first quarter. Great West Life Assurance Co. Can now owns 210,288 shares of the basic materials company’s stock worth $4,859,000 after buying an additional 4,289 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in KapStone Paper and Packaging Corporation during the first quarter worth $325,000. Finally, Motley Fool Wealth Management LLC boosted its position in shares of KapStone Paper and Packaging Corporation by 5.1% in the first quarter. Motley Fool Wealth Management LLC now owns 171,537 shares of the basic materials company’s stock worth $3,963,000 after buying an additional 8,288 shares in the last quarter. 81.16% of the stock is currently owned by institutional investors and hedge funds.

KapStone Paper and Packaging Corporation (NYSE:KS) traded down 0.39% during mid-day trading on Friday, reaching $22.76. 1,378,970 shares of the company’s stock were exchanged. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 29.99 and a beta of 2.84. KapStone Paper and Packaging Corporation has a 12 month low of $14.56 and a 12 month high of $24.98. The stock has a 50-day moving average of $22.30 and a 200-day moving average of $22.23.

KapStone Paper and Packaging Corporation (NYSE:KS) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.27 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.27. The firm had revenue of $822.70 million for the quarter, compared to the consensus estimate of $831.52 million. KapStone Paper and Packaging Corporation had a net margin of 2.39% and a return on equity of 11.26%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.27 EPS. Analysts anticipate that KapStone Paper and Packaging Corporation will post $1.27 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio is presently 51.95%.

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KS has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of KapStone Paper and Packaging Corporation from a “sell” rating to a “hold” rating in a research note on Friday, April 28th. Deutsche Bank AG raised their price target on shares of KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. BidaskClub cut shares of KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. BMO Capital Markets restated a “buy” rating and set a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research note on Tuesday, July 18th. Finally, Vertical Research upgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 3rd. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $26.14.

In other news, VP Randy J. Nebel sold 10,000 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the vice president now directly owns 47,404 shares of the company’s stock, valued at approximately $1,137,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.30% of the stock is owned by corporate insiders.

About KapStone Paper and Packaging Corporation

KapStone Paper and Packaging Corporation is a producer of containerboard and the kraft paper in North America. The Company operates through two segments: Paper and Packaging, and Distribution. The Paper and Packaging segment manufactures and sells a range of containerboard, corrugated products and specialty paper for industrial and consumer markets.

Institutional Ownership by Quarter for KapStone Paper and Packaging Corporation (NYSE:KS)

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