SG Americas Securities LLC increased its stake in shares of KapStone Paper and Packaging Corp. (NYSE:KS) by 35.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,172 shares of the basic materials company’s stock after purchasing an additional 4,233 shares during the period. SG Americas Securities LLC’s holdings in KapStone Paper and Packaging were worth $558,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of KS. Water Island Capital LLC purchased a new position in shares of KapStone Paper and Packaging during the 1st quarter worth approximately $76,151,000. Allianz Asset Management GmbH purchased a new position in KapStone Paper and Packaging in the 1st quarter valued at approximately $50,475,000. Alpine Associates Management Inc. purchased a new position in KapStone Paper and Packaging in the 1st quarter valued at approximately $48,184,000. Hsbc Holdings PLC boosted its position in KapStone Paper and Packaging by 12,462.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,183,889 shares of the basic materials company’s stock valued at $40,620,000 after buying an additional 1,174,465 shares during the period. Finally, Gabelli Funds LLC purchased a new position in KapStone Paper and Packaging in the 1st quarter valued at approximately $30,591,000. 81.59% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on KS shares. Zacks Investment Research cut shares of KapStone Paper and Packaging from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 14th. ValuEngine cut shares of KapStone Paper and Packaging from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Eight analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. KapStone Paper and Packaging presently has a consensus rating of “Hold” and a consensus price target of $32.33.
KapStone Paper and Packaging (NYSE:KS) last released its quarterly earnings data on Wednesday, July 25th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.10. The business had revenue of $912.74 million during the quarter, compared to analysts’ expectations of $935.83 million. KapStone Paper and Packaging had a net margin of 8.83% and a return on equity of 16.87%. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 EPS. As a group, sell-side analysts forecast that KapStone Paper and Packaging Corp. will post 2.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 11th. Stockholders of record on Friday, September 28th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. KapStone Paper and Packaging’s dividend payout ratio (DPR) 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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