New York State Common Retirement Fund trimmed its position in shares of KapStone Paper and Packaging Corporation (NYSE:KS) by 35.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 411,532 shares of the basic materials company’s stock after selling 225,614 shares during the period. New York State Common Retirement Fund owned about 0.42% of KapStone Paper and Packaging Corporation worth $8,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its holdings in KapStone Paper and Packaging Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,145 shares of the basic materials company’s stock valued at $106,000 after buying an additional 771 shares in the last quarter. Invictus RG bought a new position in KapStone Paper and Packaging Corporation during the first quarter valued at about $153,000. Ameritas Investment Partners Inc. bought a new position in KapStone Paper and Packaging Corporation during the first quarter valued at about $172,000. Riverhead Capital Management LLC raised its holdings in KapStone Paper and Packaging Corporation by 77.3% during the second quarter. Riverhead Capital Management LLC now owns 8,864 shares of the basic materials company’s stock valued at $183,000 after buying an additional 3,864 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in KapStone Paper and Packaging Corporation by 389.6% during the first quarter. PNC Financial Services Group Inc. now owns 9,943 shares of the basic materials company’s stock valued at $230,000 after buying an additional 7,912 shares in the last quarter. Institutional investors and hedge funds own 83.89% of the company’s stock.

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KapStone Paper and Packaging Corporation (NYSE:KS) opened at 22.12 on Tuesday. The company has a 50-day moving average of $22.12 and a 200-day moving average of $21.94. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 29.14 and a beta of 2.78. KapStone Paper and Packaging Corporation has a 52 week low of $17.06 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 earnings per share for the quarter, meeting the 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 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 business’s revenue was up 4.8% compared to the same quarter last year. On average, equities analysts forecast that KapStone Paper and Packaging Corporation will post $1.26 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio (DPR) is currently 51.95%.

Several equities analysts have weighed in on the company. Zacks Investment Research lowered KapStone Paper and Packaging Corporation from a “strong-buy” rating to a “hold” rating in a report on Saturday, July 29th. Royal Bank Of Canada restated a “buy” rating and set a $27.00 target price on shares of KapStone Paper and Packaging Corporation in a report on Monday, August 21st. ValuEngine upgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub upgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, BMO Capital Markets restated a “buy” rating and set a $28.00 target price on shares of KapStone Paper and Packaging Corporation in a report on Tuesday, July 18th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $26.29.

In other news, VP Randy J. Nebel sold 10,000 shares of KapStone Paper and Packaging Corporation 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 completion of the transaction, the vice president now directly owns 47,404 shares in the company, valued at $1,137,696. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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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