Bank of New York Mellon Corp lowered its holdings in Kapstone (NYSE:KS) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,285,706 shares of the basic materials company’s stock after selling 33,137 shares during the quarter. Bank of New York Mellon Corp owned about 1.32% of Kapstone worth $29,172,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Kapstone by 1.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,874,765 shares of the basic materials company’s stock valued at $104,760,000 after acquiring an additional 55,687 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Kapstone by 51.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 3,360,888 shares of the basic materials company’s stock valued at $72,225,000 after acquiring an additional 1,148,963 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Kapstone by 7.2% during the 3rd quarter. Macquarie Group Ltd. now owns 2,132,675 shares of the basic materials company’s stock valued at $45,831,000 after acquiring an additional 142,855 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Kapstone by 1.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,321,166 shares of the basic materials company’s stock valued at $29,976,000 after acquiring an additional 23,416 shares in the last quarter. Finally, Westfield Capital Management Co. LP lifted its stake in Kapstone by 25.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 903,475 shares of the basic materials company’s stock valued at $19,416,000 after acquiring an additional 182,875 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.
KS has been the topic of several recent analyst reports. Zacks Investment Research upgraded Kapstone from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 28th. Stephens set a $30.00 price objective on Kapstone and gave the company a “buy” rating in a research note on Wednesday, January 10th. ValuEngine upgraded Kapstone from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Deutsche Bank cut Kapstone from a “buy” rating to a “hold” rating and set a $35.00 target price on the stock. in a research note on Thursday, February 8th. Finally, Citigroup reiterated a “neutral” rating and set a $26.00 target price on shares of Kapstone in a research note on Tuesday, January 30th. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $30.71.
Shares of NYSE KS traded down $0.11 during mid-day trading on Friday, reaching $34.38. 622,981 shares of the company’s stock were exchanged, compared to its average volume of 1,026,311. Kapstone has a 52 week low of $19.59 and a 52 week high of $35.01. The stock has a market capitalization of $3,347.96, a price-to-earnings ratio of 26.05, a PEG ratio of 1.31 and a beta of 3.02. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.96 and a quick ratio of 1.21.
Kapstone (NYSE:KS) last announced its quarterly earnings data on Wednesday, February 7th. The basic materials company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12. Kapstone had a return on equity of 13.31% and a net margin of 7.34%. The business had revenue of $859.00 million for the quarter, compared to analysts’ expectations of $834.23 million. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. research analysts expect that Kapstone will post 1.87 EPS for the current fiscal year.
The company also recently disclosed a None dividend, which will be paid on Wednesday, April 11th. Investors of record on Wednesday, March 28th will be paid a $0.10 dividend. This represents a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, March 27th. Kapstone’s dividend payout ratio is currently 30.30%.
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KapStone Paper and Packaging Corporation produces and sells a range of containerboards, corrugated products, and specialty paper products in the United States and internationally. The company operates in two segments, Paper and Packaging, and Distribution. The Paper and Packaging segment offers containerboards consisting of linerboard and corrugated medium to manufacture corrugated containers for packaging products; and corrugated products.
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