JPMorgan Chase & Co. Has $54.66 Million Stake in KapStone Paper and Packaging Corporation (KS)

JPMorgan Chase & Co. lessened its position in KapStone Paper and Packaging Corporation (NYSE:KS) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,649,590 shares of the basic materials company’s stock after selling 100,813 shares during the period. JPMorgan Chase & Co. owned about 2.73% of KapStone Paper and Packaging Corporation worth $54,661,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cipher Capital LP lifted its stake in shares of KapStone Paper and Packaging Corporation by 18.4% in the second quarter. Cipher Capital LP now owns 30,775 shares of the basic materials company’s stock worth $635,000 after buying an additional 4,784 shares in the last quarter. IndexIQ Advisors LLC lifted its stake in shares of KapStone Paper and Packaging Corporation by 38.2% in the second quarter. IndexIQ Advisors LLC now owns 51,532 shares of the basic materials company’s stock worth $1,063,000 after buying an additional 14,249 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of KapStone Paper and Packaging Corporation by 5.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 25,697 shares of the basic materials company’s stock worth $530,000 after buying an additional 1,221 shares in the last quarter. Bridge City Capital LLC bought a new position in shares of KapStone Paper and Packaging Corporation in the second quarter worth approximately $1,467,000. Finally, Victory Capital Management Inc. lifted its stake in shares of KapStone Paper and Packaging Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,145 shares of the basic materials company’s stock worth $106,000 after buying an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

In related news, VP Randy J. Nebel sold 10,000 shares of KapStone Paper and Packaging Corporation 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 sale, the vice president now directly owns 47,404 shares in the company, valued at approximately $1,137,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.09% of the stock is owned by company insiders.

Several research analysts have recently issued reports on KS shares. ValuEngine upgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Citigroup Inc. assumed coverage on shares of KapStone Paper and Packaging Corporation in a research report on Wednesday, August 16th. They set a “buy” rating and a $25.00 price objective on the stock. BMO Capital Markets restated a “buy” rating and set a $28.00 price objective on shares of KapStone Paper and Packaging Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub downgraded shares of KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $26.29.

KapStone Paper and Packaging Corporation (KS) opened at 23.04 on Wednesday. The company’s 50-day moving average is $22.29 and its 200-day moving average is $22.01. KapStone Paper and Packaging Corporation has a 12 month low of $16.91 and a 12 month high of $24.98. The company has a market cap of $2.23 billion, a P/E ratio of 30.36 and a beta of 2.81.

KapStone Paper and Packaging Corporation (NYSE:KS) last released its earnings results on Wednesday, July 26th. The basic materials company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27. The company had revenue of $822.70 million during the quarter, compared to analysts’ expectations of $831.52 million. KapStone Paper and Packaging Corporation had a net margin of 2.39% and a return on equity of 11.26%. KapStone Paper and Packaging Corporation’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the business earned $0.27 EPS. On average, equities research analysts expect that KapStone Paper and Packaging Corporation will post $1.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, September 29th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio (DPR) is presently 51.95%.

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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.

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

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