Wetherby Asset Management Inc. held its stake in shares of KapStone Paper and Packaging Corporation (NYSE:KS) during the second quarter, Holdings Channel reports. The fund owned 22,000 shares of the basic materials company’s stock at the end of the second quarter. Wetherby Asset Management Inc.’s holdings in KapStone Paper and Packaging Corporation were worth $454,000 at the end of the most recent quarter.

Other hedge funds 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 worth $118,000 after buying an additional 374 shares in the last quarter. Invictus RG bought a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth $153,000. Ameritas Investment Partners Inc. bought a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth $172,000. State of Alaska Department of Revenue raised its stake in shares of 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 worth $225,000 after buying an additional 240 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of KapStone Paper and Packaging Corporation by 389.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,943 shares of the basic materials company’s stock worth $230,000 after buying an additional 7,912 shares in the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.

KapStone Paper and Packaging Corporation (NYSE KS) opened at 21.69 on Monday. The company has a market cap of $2.10 billion, a P/E ratio of 28.58 and a beta of 2.84. KapStone Paper and Packaging Corporation has a 1-year low of $14.56 and a 1-year high of $24.98. The stock’s 50 day moving average is $22.04 and its 200 day moving average is $22.29.

KapStone Paper and Packaging Corporation (NYSE:KS) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.27 EPS for the quarter, hitting 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 business had revenue of $822.70 million during the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter in the previous year, the company earned $0.27 EPS. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities analysts anticipate 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. The ex-dividend date is Thursday, September 28th. This represents a $0.40 dividend on an annualized basis and a yield of 1.84%. KapStone Paper and Packaging Corporation’s dividend payout ratio is presently 51.95%.

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A number of brokerages have weighed in on KS. Deutsche Bank AG raised their target price on shares of KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research upgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 19th. Vertical Research upgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 3rd. BidaskClub lowered shares of KapStone Paper and Packaging Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, BMO Capital Markets restated a “buy” rating and issued a $28.00 target price on shares of KapStone Paper and Packaging Corporation in a research report on Tuesday, July 18th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. KapStone Paper and Packaging Corporation currently has an average rating of “Hold” and an average price target of $26.33.

In other KapStone Paper and Packaging Corporation news, VP Randy J. Nebel sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the vice president now owns 47,404 shares of the company’s stock, valued at approximately $1,137,696. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Storch purchased 5,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was bought at an average cost of $20.00 per share, with a total value of $100,000.00. Following the purchase, the director now owns 45,127 shares in the company, valued at $902,540. The disclosure for this purchase can be found here. 13.30% of the stock is owned by 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.

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

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