Canada Pension Plan Investment Board cut its stake in shares of KapStone Paper and Packaging Corporation (NYSE:KS) by 37.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,800 shares of the basic materials company’s stock after selling 24,300 shares during the period. Canada Pension Plan Investment Board’s holdings in KapStone Paper and Packaging Corporation were worth $842,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of KS. National Asset Management Inc. boosted its position in KapStone Paper and Packaging Corporation by 0.7% in the first quarter. National Asset Management Inc. now owns 10,095 shares of the basic materials company’s stock valued at $234,000 after buying an additional 75 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in KapStone Paper and Packaging Corporation by 0.3% in the second quarter. Louisiana State Employees Retirement System now owns 35,900 shares of the basic materials company’s stock valued at $741,000 after buying an additional 100 shares during the last quarter. State of Alaska Department of Revenue boosted its position in KapStone Paper and Packaging Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 9,750 shares of the basic materials company’s stock valued at $225,000 after buying an additional 240 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its position in KapStone Paper and Packaging Corporation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 24,180 shares of the basic materials company’s stock valued at $558,000 after buying an additional 240 shares during the last quarter. Finally, Flinton Capital Management LLC boosted its position in KapStone Paper and Packaging Corporation by 7.9% in the first quarter. Flinton Capital Management LLC now owns 5,100 shares of the basic materials company’s stock valued at $118,000 after buying an additional 374 shares during the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Shares of KapStone Paper and Packaging Corporation (NYSE:KS) opened at 21.33 on Wednesday. The firm’s 50-day moving average price is $22.25 and its 200 day moving average price is $22.12. The stock has a market capitalization of $2.07 billion, a P/E ratio of 28.10 and a beta of 2.84. KapStone Paper and Packaging Corporation has a 1-year low of $16.09 and a 1-year high of $24.98.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.40 annualized dividend and a yield of 1.88%. KapStone Paper and Packaging Corporation’s dividend payout ratio is 51.95%.

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Several research firms recently commented on KS. BidaskClub raised KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. ValuEngine cut KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. Zacks Investment Research raised KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Wednesday, July 19th. Vertical Research raised KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $27.00 target price on shares of KapStone Paper and Packaging Corporation in a research note on Monday, August 21st. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.29.

In other KapStone Paper and Packaging Corporation 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 transaction of $240,000.00. Following the sale, 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 Securities & Exchange Commission, which is available through this link. 13.09% of the stock is currently 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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