BNP Paribas Arbitrage SA raised its position in KapStone Paper and Packaging Corp. (NYSE:KS) by 109.8% during the second quarter, Holdings Channel reports. The fund owned 27,366 shares of the company’s stock after buying an additional 14,323 shares during the period. BNP Paribas Arbitrage SA’s holdings in KapStone Paper and Packaging Corp. were worth $356,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Menta Capital LLC acquired a new stake in shares of KapStone Paper and Packaging Corp. during the first quarter worth $216,000. Huntington Asset Advisors Inc. acquired a new stake in shares of KapStone Paper and Packaging Corp. during the first quarter worth $242,000. LPL Financial LLC acquired a new stake in shares of KapStone Paper and Packaging Corp. during the first quarter worth $265,000. Legal & General Group Plc increased its stake in KapStone Paper and Packaging Corp. by 20.0% in the first quarter. Legal & General Group Plc now owns 19,846 shares of the company’s stock valued at $270,000 after buying an additional 3,310 shares in the last quarter. Finally, Invictus RG purchased a new stake in KapStone Paper and Packaging Corp. during the first quarter valued at approximately $342,000. Institutional investors and hedge funds own 82.54% of the company’s stock.

Shares of KapStone Paper and Packaging Corp. (NYSE:KS) traded up 3.13% on Friday, hitting $18.43. The company had a trading volume of 1,922,480 shares. KapStone Paper and Packaging Corp. has a 52 week low of $8.95 and a 52 week high of $24.91. The firm’s 50 day moving average price is $16.04 and its 200-day moving average price is $14.52. The stock has a market capitalization of $1.78 billion, a PE ratio of 21.68 and a beta of 2.49.

KapStone Paper and Packaging Corp. (NYSE:KS) last issued its earnings results on Wednesday, July 27th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.02. The company had revenue of $784.91 million for the quarter, compared to analysts’ expectations of $820.11 million. KapStone Paper and Packaging Corp. had a net margin of 2.68% and a return on equity of 12.64%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts forecast that KapStone Paper and Packaging Corp. will post $1.18 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Friday, September 30th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Wednesday, September 28th. KapStone Paper and Packaging Corp.’s dividend payout ratio is presently 47.06%.

KS has been the subject of several recent research reports. Zacks Investment Research downgraded KapStone Paper and Packaging Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, July 5th. Dundee Securities upgraded KapStone Paper and Packaging Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday, July 19th. Deutsche Bank AG boosted their price objective on KapStone Paper and Packaging Corp. from $14.00 to $15.00 and gave the company a “hold” rating in a report on Wednesday, August 10th. Bank of America Corp. upgraded KapStone Paper and Packaging Corp. from an “underperform” rating to a “neutral” rating and set a $18.00 price objective for the company in a report on Monday, August 29th. Finally, Standpoint Research downgraded KapStone Paper and Packaging Corp. from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.69.

In related news, Director Jonathan R. Furer sold 25,000 shares of the stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $15.09, for a total transaction of $377,250.00. Following the completion of the sale, the director now directly owns 1,189,400 shares in the company, valued at approximately $17,948,046. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 13.30% of the company’s stock.

About KapStone Paper and Packaging Corp.

KapStone Paper and Packaging Corporation is engaged in the production of containerboard, corrugated products and specialty paper. The Company operates through two segments: Paper and Packaging, and Distribution. The Company operates approximately four paper mills. It produces approximately 2.7 million tons of containerboard and specialty paper at its mills in North Charleston, South Carolina; Roanoke Rapids, North Carolina; Cowpens, South Carolina, and Longview, Washington.

5 Day Chart for NYSE:KS

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