State Board of Administration of Florida Retirement System Holds Stake in KapStone Paper and Packaging Corporation (KS)

State Board of Administration of Florida Retirement System maintained its position in shares of KapStone Paper and Packaging Corporation (NYSE:KS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 81,827 shares of the basic materials company’s stock at the close of the 2nd quarter. State Board of Administration of Florida Retirement System owned 0.08% of KapStone Paper and Packaging Corporation worth $1,688,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in KapStone Paper and Packaging Corporation by 53,613.8% in the first quarter. BlackRock Inc. now owns 11,283,124 shares of the basic materials company’s stock valued at $260,641,000 after acquiring an additional 11,262,118 shares during the last quarter. Vanguard Group Inc. lifted its stake in KapStone Paper and Packaging Corporation by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,742,360 shares of the basic materials company’s stock valued at $178,849,000 after acquiring an additional 134,457 shares during the last quarter. Wellington Management Group LLP lifted its stake in KapStone Paper and Packaging Corporation by 44.5% in the first quarter. Wellington Management Group LLP now owns 5,082,064 shares of the basic materials company’s stock valued at $117,396,000 after acquiring an additional 1,564,976 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in KapStone Paper and Packaging Corporation by 4.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,803,937 shares of the basic materials company’s stock valued at $110,970,000 after acquiring an additional 220,245 shares during the last quarter. Finally, State Street Corp lifted its stake in KapStone Paper and Packaging Corporation by 0.9% in the first quarter. State Street Corp now owns 2,045,971 shares of the basic materials company’s stock valued at $47,263,000 after acquiring an additional 18,772 shares during the last quarter. Institutional investors and hedge funds own 83.90% of the company’s stock.

A number of analysts have 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 lowered 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. started coverage on shares of KapStone Paper and Packaging Corporation in a research report on Wednesday, August 16th. They issued a “buy” rating and a $25.00 price target on the stock. BMO Capital Markets reissued a “buy” rating and issued a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research report on Tuesday, July 18th. Finally, BidaskClub lowered 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 given a buy rating to the company’s stock. KapStone Paper and Packaging Corporation has a consensus rating of “Hold” and a consensus price target of $26.29.

In other KapStone Paper and Packaging Corporation news, VP Randy J. Nebel sold 10,000 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the transaction, the vice president now 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 this link. 13.09% of the stock is owned by company insiders.

Shares of KapStone Paper and Packaging Corporation (NYSE:KS) opened at 22.73 on Friday. The firm has a 50-day moving average of $22.31 and a 200 day moving average of $22.03. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 29.95 and a beta of 2.81. KapStone Paper and Packaging Corporation has a one year low of $17.06 and a one year high of $24.98.

KapStone Paper and Packaging Corporation (NYSE:KS) last posted its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.27 earnings per share for the quarter, hitting the consensus estimate of $0.27. The firm had revenue of $822.70 million for the quarter, compared to analysts’ expectations of $831.52 million. KapStone Paper and Packaging Corporation had a return on equity of 11.26% and a net margin of 2.39%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. Equities research analysts anticipate that KapStone Paper and Packaging Corporation will post $1.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, September 28th. KapStone Paper and Packaging Corporation’s payout ratio is 51.95%.

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KapStone Paper and Packaging Corporation 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.

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

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