Allianz Asset Management GmbH Sells 134,362 Shares of KapStone Paper and Packaging Corp. (KS)

Allianz Asset Management GmbH cut its holdings in shares of KapStone Paper and Packaging Corp. (NYSE:KS) by 9.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,350,041 shares of the basic materials company’s stock after selling 134,362 shares during the quarter. Allianz Asset Management GmbH owned 1.38% of KapStone Paper and Packaging worth $45,780,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KS. BlackRock Inc. increased its stake in KapStone Paper and Packaging by 3.3% in the third quarter. BlackRock Inc. now owns 13,216,473 shares of the basic materials company’s stock valued at $448,171,000 after acquiring an additional 422,326 shares during the last quarter. Water Island Capital LLC increased its stake in KapStone Paper and Packaging by 9.7% in the second quarter. Water Island Capital LLC now owns 2,435,099 shares of the basic materials company’s stock valued at $84,011,000 after acquiring an additional 215,600 shares during the last quarter. Gardner Lewis Asset Management L P increased its stake in KapStone Paper and Packaging by 74.5% in the second quarter. Gardner Lewis Asset Management L P now owns 1,792,144 shares of the basic materials company’s stock valued at $61,829,000 after acquiring an additional 765,382 shares during the last quarter. Alpine Associates Management Inc. increased its stake in KapStone Paper and Packaging by 10.8% in the third quarter. Alpine Associates Management Inc. now owns 1,788,800 shares of the basic materials company’s stock valued at $60,659,000 after acquiring an additional 174,200 shares during the last quarter. Finally, Northern Trust Corp increased its stake in KapStone Paper and Packaging by 2.8% in the second quarter. Northern Trust Corp now owns 1,491,259 shares of the basic materials company’s stock valued at $51,448,000 after acquiring an additional 41,202 shares during the last quarter. 81.51% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research raised shares of KapStone Paper and Packaging from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, KapStone Paper and Packaging presently has a consensus rating of “Hold” and an average price target of $32.33.

NYSE KS opened at $34.95 on Friday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.06 and a beta of 2.79. KapStone Paper and Packaging Corp. has a fifty-two week low of $20.51 and a fifty-two week high of $35.10. The company has a current ratio of 2.28, a quick ratio of 1.39 and a debt-to-equity ratio of 1.10.

KapStone Paper and Packaging (NYSE:KS) last posted its earnings results on Tuesday, October 23rd. The basic materials company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.10. The firm had revenue of $893.60 million for the quarter, compared to analysts’ expectations of $923.10 million. KapStone Paper and Packaging had a net margin of 9.99% and a return on equity of 18.99%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share. As a group, sell-side analysts predict that KapStone Paper and Packaging Corp. will post 2.36 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This piece was originally reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The legal version of this piece can be accessed at https://www.com-unik.info/2018/12/02/allianz-asset-management-gmbh-sells-134362-shares-of-kapstone-paper-and-packaging-corp-ks.html.

About KapStone Paper and Packaging

KapStone Paper and Packaging Corporation produces and sells a range of containerboards, corrugated products, and specialty paper products in the United States and internationally. The company operates in two segments, Paper and Packaging, and Distribution. The Paper and Packaging segment offers containerboards consisting of linerboard and corrugated medium to manufacture corrugated containers for packaging products; and corrugated products.

Featured Article: Market Capitalization – What it Means for Investors

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

Receive News & Ratings for KapStone Paper and Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KapStone Paper and Packaging and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit