BNP Paribas Arbitrage SA Has $616,000 Holdings in KapStone Paper and Packaging Corporation (KS)

BNP Paribas Arbitrage SA raised its stake in shares of KapStone Paper and Packaging Corporation (NYSE:KS) by 63.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,855 shares of the basic materials company’s stock after purchasing an additional 11,618 shares during the period. BNP Paribas Arbitrage SA’s holdings in KapStone Paper and Packaging Corporation were worth $616,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in KapStone Paper and Packaging Corporation by 53,613.8% during the 1st quarter. BlackRock Inc. now owns 11,283,124 shares of the basic materials company’s stock valued at $260,641,000 after purchasing an additional 11,262,118 shares during the last quarter. Vanguard Group Inc. boosted its stake in KapStone Paper and Packaging Corporation by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,742,360 shares of the basic materials company’s stock valued at $178,849,000 after purchasing an additional 134,457 shares during the last quarter. Wellington Management Group LLP boosted its stake in KapStone Paper and Packaging Corporation by 44.5% during the 1st quarter. Wellington Management Group LLP now owns 5,082,064 shares of the basic materials company’s stock valued at $117,396,000 after purchasing an additional 1,564,976 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in KapStone Paper and Packaging Corporation by 4.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,803,937 shares of the basic materials company’s stock valued at $110,970,000 after purchasing an additional 220,245 shares during the last quarter. Finally, State Street Corp boosted its stake in KapStone Paper and Packaging Corporation by 0.9% during the 1st quarter. State Street Corp now owns 2,045,971 shares of the basic materials company’s stock valued at $47,263,000 after purchasing an additional 18,772 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

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KapStone Paper and Packaging Corporation (NYSE KS) opened at 23.04 on Wednesday. The firm’s 50 day moving average is $22.29 and its 200 day moving average is $22.01. The company has a market cap of $2.23 billion, a PE ratio of 30.36 and a beta of 2.81. KapStone Paper and Packaging Corporation has a 52-week low of $16.91 and a 52-week high of $24.98.

KapStone Paper and Packaging Corporation (NYSE:KS) last posted its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.27 EPS for the quarter, meeting 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 firm had revenue of $822.70 million for the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter in the prior year, the company posted $0.27 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast that KapStone Paper and Packaging Corporation will post $1.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 28th. KapStone Paper and Packaging Corporation’s payout ratio is 51.95%.

KS has been the subject of a number of analyst reports. ValuEngine upgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Citigroup Inc. initiated coverage on KapStone Paper and Packaging Corporation in a research note on Wednesday, August 16th. They set a “buy” rating and a $25.00 price target for the company. BMO Capital Markets reiterated 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, BidaskClub downgraded KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. KapStone Paper and Packaging Corporation presently has an average rating of “Hold” and an average price target of $26.29.

In other news, VP Randy J. Nebel sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the vice president now owns 47,404 shares in the company, valued at $1,137,696. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 13.09% of the company’s stock.

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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