Highbridge Capital Management LLC Purchases New Stake in KapStone Paper and Packaging Corp. (KS)

Highbridge Capital Management LLC purchased a new position in shares of KapStone Paper and Packaging Corp. (NYSE:KS) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 6,700 shares of the basic materials company’s stock, valued at approximately $230,000.

A number of other institutional investors also recently added to or reduced their stakes in KS. Schwab Charles Investment Management Inc. increased its position in KapStone Paper and Packaging by 9.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 626,172 shares of the basic materials company’s stock worth $14,208,000 after buying an additional 54,207 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in KapStone Paper and Packaging during the fourth quarter worth $669,000. California Public Employees Retirement System increased its position in KapStone Paper and Packaging by 3.2% during the fourth quarter. California Public Employees Retirement System now owns 172,400 shares of the basic materials company’s stock worth $3,912,000 after buying an additional 5,300 shares in the last quarter. Swiss National Bank increased its position in KapStone Paper and Packaging by 2.6% during the fourth quarter. Swiss National Bank now owns 148,600 shares of the basic materials company’s stock worth $3,372,000 after buying an additional 3,700 shares in the last quarter. Finally, First Trust Advisors LP increased its position in KapStone Paper and Packaging by 14.7% during the fourth quarter. First Trust Advisors LP now owns 63,719 shares of the basic materials company’s stock worth $1,446,000 after buying an additional 8,174 shares in the last quarter. 82.07% of the stock is owned by institutional investors.

KS has been the subject of a number of recent analyst reports. Zacks Investment Research raised KapStone Paper and Packaging from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, June 21st. ValuEngine downgraded KapStone Paper and Packaging from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 19th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. KapStone Paper and Packaging currently has a consensus rating of “Hold” and a consensus target price of $32.17.

Shares of NYSE:KS opened at $34.80 on Wednesday. The firm has a market capitalization of $3.40 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.11 and a beta of 3.03. The company has a quick ratio of 1.24, a current ratio of 2.07 and a debt-to-equity ratio of 1.26. KapStone Paper and Packaging Corp. has a 52 week low of $20.37 and a 52 week high of $35.01.

KapStone Paper and Packaging (NYSE:KS) last announced its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.07. The business had revenue of $799.20 million during the quarter, compared to the consensus estimate of $810.80 million. KapStone Paper and Packaging had a return on equity of 15.10% and a net margin of 8.07%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. research analysts anticipate that KapStone Paper and Packaging Corp. will post 2.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Stockholders of record on Friday, June 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Thursday, June 28th. KapStone Paper and Packaging’s dividend payout ratio is currently 30.30%.

About KapStone Paper and Packaging

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

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