KapStone Paper and Packaging Corporation (KS) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC lifted its stake in shares of KapStone Paper and Packaging Corporation (NYSE:KS) by 53.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,047 shares of the basic materials company’s stock after purchasing an additional 26,781 shares during the period. Verition Fund Management LLC owned about 0.08% of KapStone Paper and Packaging Corporation worth $1,589,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of KS. BlackRock Inc. lifted its position in shares of KapStone Paper and Packaging Corporation by 53,613.8% during the first quarter. BlackRock Inc. now owns 11,283,124 shares of the basic materials company’s stock worth $260,641,000 after purchasing an additional 11,262,118 shares during the last quarter. Macquarie Group Ltd. raised its stake in KapStone Paper and Packaging Corporation by 780.7% during the first quarter. Macquarie Group Ltd. now owns 1,836,358 shares of the basic materials company’s stock worth $42,420,000 after acquiring an additional 1,627,858 shares during the period. Bank of America Corp DE raised its stake in KapStone Paper and Packaging Corporation by 191.6% during the first quarter. Bank of America Corp DE now owns 1,316,332 shares of the basic materials company’s stock worth $30,407,000 after acquiring an additional 864,971 shares during the period. Westfield Capital Management Co. LP acquired a new stake in KapStone Paper and Packaging Corporation during the second quarter worth about $14,866,000. Finally, Point72 Asset Management L.P. acquired a new stake in KapStone Paper and Packaging Corporation during the first quarter worth about $13,955,000. 83.89% of the stock is currently owned by institutional investors and hedge funds.

KS has been the topic of several research reports. Royal Bank Of Canada reiterated a “buy” rating and set a $27.00 price objective on shares of KapStone Paper and Packaging Corporation in a research note on Monday, August 21st. Zacks Investment Research upgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Wednesday, July 19th. 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. BidaskClub lowered shares of KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $28.00 price objective on shares of KapStone Paper and Packaging Corporation in a research note on Tuesday, July 18th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. KapStone Paper and Packaging Corporation has an average rating of “Buy” and an average price target of $26.29.

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In other KapStone Paper and Packaging Corporation news, VP Randy J. Nebel sold 10,000 shares of the business’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 completion of the transaction, the vice president now directly owns 47,404 shares of the company’s stock, valued at $1,137,696. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.09% of the company’s stock.

KapStone Paper and Packaging Corporation (KS) traded up 0.49% during midday trading on Friday, reaching $22.55. 106,916 shares of the company traded hands. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 29.71 and a beta of 2.77. The firm’s 50 day moving average price is $22.24 and its 200 day moving average price is $21.94. KapStone Paper and Packaging Corporation has a 12 month low of $17.06 and a 12 month high of $24.98.

KapStone Paper and Packaging Corporation (NYSE:KS) last announced 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. KapStone Paper and Packaging Corporation had a net margin of 2.39% and a return on equity of 11.26%. The company had revenue of $822.70 million during the quarter, compared to the consensus estimate of $831.52 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. On average, analysts expect that KapStone Paper and Packaging Corporation will post $1.26 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, September 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio is presently 51.95%.

KapStone Paper and Packaging Corporation Company Profile

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.

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

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