Pictet Asset Management Ltd. cut its stake in KapStone Paper and Packaging Corporation (NYSE:KS) by 12.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,228,696 shares of the basic materials company’s stock after selling 179,614 shares during the period. Pictet Asset Management Ltd.’s holdings in KapStone Paper and Packaging Corporation were worth $25,963,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Flinton Capital Management LLC raised its stake in shares of 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 in the last quarter. First Trust Advisors LP raised its position in shares of KapStone Paper and Packaging Corporation by 26.3% in the first quarter. First Trust Advisors LP now owns 84,630 shares of the basic materials company’s stock worth $1,955,000 after buying an additional 17,621 shares during the period. IndexIQ Advisors LLC raised its position in shares of KapStone Paper and Packaging Corporation by 108.5% in the first quarter. IndexIQ Advisors LLC now owns 37,283 shares of the basic materials company’s stock worth $861,000 after buying an additional 19,398 shares during the period. Great West Life Assurance Co. Can raised its position in shares of KapStone Paper and Packaging Corporation by 2.1% in the first quarter. Great West Life Assurance Co. Can now owns 210,288 shares of the basic materials company’s stock worth $4,859,000 after buying an additional 4,289 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of KapStone Paper and Packaging Corporation by 420.8% in the first quarter. Canada Pension Plan Investment Board now owns 65,100 shares of the basic materials company’s stock worth $1,504,000 after buying an additional 52,600 shares during the period. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

KapStone Paper and Packaging Corporation (NYSE:KS) opened at 21.74 on Friday. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 28.64 and a beta of 2.84. KapStone Paper and Packaging Corporation has a 12-month low of $14.56 and a 12-month high of $24.98. The company’s 50-day moving average price is $22.01 and its 200-day moving average price is $22.30.

KapStone Paper and Packaging Corporation (NYSE:KS) last posted its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $822.70 million for the quarter, compared to analyst estimates of $831.52 million. KapStone Paper and Packaging Corporation had a return on equity of 11.26% and a net margin of 2.39%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities analysts expect that KapStone Paper and Packaging Corporation will post $1.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Shareholders of record on Thursday, June 29th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, June 27th. KapStone Paper and Packaging Corporation’s dividend payout ratio is currently 51.95%.

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A number of brokerages have recently commented on KS. Deutsche Bank AG raised their price target on KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Vertical Research lowered KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. 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. ValuEngine lowered KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Finally, BidaskClub raised KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $26.33.

In other news, Director David P. Storch bought 5,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average price of $20.00 per share, for a total transaction of $100,000.00. Following the completion of the transaction, the director now directly owns 45,127 shares in the company, valued at approximately $902,540. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Randy J. Nebel sold 10,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the sale, the vice president now owns 47,404 shares of the company’s stock, valued at approximately $1,137,696. The disclosure for this sale can be found here. 13.30% of the stock is currently owned by insiders.

KapStone Paper and Packaging Corporation Company Profile

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.

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

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