New York State Common Retirement Fund Has $8.68 Million Position in KapStone Paper and Packaging Corp. (NYSE:KS)

New York State Common Retirement Fund decreased its holdings in shares of KapStone Paper and Packaging Corp. (NYSE:KS) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 404,016 shares of the basic materials company’s stock after selling 7,516 shares during the quarter. New York State Common Retirement Fund owned about 0.42% of KapStone Paper and Packaging worth $8,682,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Paradigm Capital Management Inc. NY grew its holdings in shares of KapStone Paper and Packaging by 0.5% in the third quarter. Paradigm Capital Management Inc. NY now owns 1,680,800 shares of the basic materials company’s stock valued at $36,120,000 after purchasing an additional 8,950 shares during the period. Sei Investments Co. grew its holdings in shares of KapStone Paper and Packaging by 46,008.8% in the third quarter. Sei Investments Co. now owns 78,846 shares of the basic materials company’s stock valued at $1,695,000 after purchasing an additional 78,675 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of KapStone Paper and Packaging by 53.1% in the third quarter. BNP Paribas Arbitrage SA now owns 45,698 shares of the basic materials company’s stock valued at $982,000 after purchasing an additional 15,843 shares during the period. IndexIQ Advisors LLC grew its holdings in shares of KapStone Paper and Packaging by 108.5% in the third quarter. IndexIQ Advisors LLC now owns 107,459 shares of the basic materials company’s stock valued at $2,309,000 after purchasing an additional 55,927 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of KapStone Paper and Packaging by 12.1% in the third quarter. American Century Companies Inc. now owns 266,031 shares of the basic materials company’s stock valued at $5,717,000 after purchasing an additional 28,774 shares during the period. 86.08% of the stock is owned by institutional investors and hedge funds.

A number of brokerages recently issued reports on KS. TheStreet raised shares of KapStone Paper and Packaging from a “c+” rating to a “b-” rating in a report on Monday, January 8th. Stephens set a $30.00 price objective on shares of KapStone Paper and Packaging and gave the company a “buy” rating in a report on Wednesday. Zacks Investment Research raised shares of KapStone Paper and Packaging from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of KapStone Paper and Packaging from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, KeyCorp reaffirmed a “hold” rating on shares of KapStone Paper and Packaging in a research report on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.63.

In other news, VP Andrea K. Tarbox sold 32,486 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $20.95, for a total transaction of $680,581.70. Following the sale, the vice president now owns 157,336 shares of the company’s stock, valued at $3,296,189.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Chapman sold 70,765 shares of the stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $20.80, for a total transaction of $1,471,912.00. Following the sale, the director now directly owns 445,056 shares in the company, valued at approximately $9,257,164.80. The disclosure for this sale can be found here. 13.09% of the stock is currently owned by corporate insiders.

KapStone Paper and Packaging Corp. (NYSE:KS) traded down $0.26 during midday trading on Friday, reaching $25.98. 938,890 shares of the company’s stock were exchanged, compared to its average volume of 704,526. KapStone Paper and Packaging Corp. has a 52 week low of $19.59 and a 52 week high of $26.47. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.07 and a quick ratio of 1.25. The firm has a market capitalization of $2,520.00, a PE ratio of 34.64, a P/E/G ratio of 1.27 and a beta of 2.76.

KapStone Paper and Packaging (NYSE:KS) last posted its earnings results on Wednesday, October 25th. The basic materials company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). KapStone Paper and Packaging had a net margin of 2.29% and a return on equity of 11.12%. The company had revenue of $868.42 million during the quarter, compared to analyst estimates of $839.36 million. During the same period in the previous year, the company earned $0.37 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. equities research analysts anticipate that KapStone Paper and Packaging Corp. will post 1.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a dividend of $0.10 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.40 annualized dividend and a dividend yield of 1.54%. KapStone Paper and Packaging’s dividend payout ratio is presently 53.33%.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.dispatchtribunal.com/2018/01/13/kapstone-paper-and-packaging-corp-ks-position-reduced-by-new-york-state-common-retirement-fund.html.

KapStone Paper and Packaging 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.

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

Receive News & Ratings for KapStone Paper and Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KapStone Paper and Packaging and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply