Proxima Capital Management LLC boosted its position in KapStone Paper and Packaging Corporation (NYSE:KS) by 50.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,500 shares of the basic materials company’s stock after purchasing an additional 96,500 shares during the period. KapStone Paper and Packaging Corporation comprises approximately 3.2% of Proxima Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Proxima Capital Management LLC owned 0.30% of KapStone Paper and Packaging Corporation worth $5,952,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bridge City Capital LLC purchased a new position in KapStone Paper and Packaging Corporation in the second quarter valued at approximately $1,467,000. Cipher Capital LP lifted its stake in 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 valued at $635,000 after purchasing an additional 4,784 shares during the last quarter. 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 purchasing an additional 18,772 shares during the last quarter. First Trust Advisors LP lifted its stake in KapStone Paper and Packaging Corporation by 34.2% in the second quarter. First Trust Advisors LP now owns 113,615 shares of the basic materials company’s stock valued at $2,344,000 after purchasing an additional 28,985 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new position in KapStone Paper and Packaging Corporation in the first quarter valued at approximately $325,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

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Several research firms recently commented on KS. Zacks Investment Research downgraded KapStone Paper and Packaging Corporation from a “strong-buy” rating to a “hold” rating in a research note on Saturday, July 29th. Royal Bank Of Canada reiterated a “buy” rating and issued a $27.00 price objective on shares of KapStone Paper and Packaging Corporation in a research note on Monday, August 21st. ValuEngine upgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Finally, KeyCorp reiterated a “hold” rating on shares of KapStone Paper and Packaging Corporation in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. KapStone Paper and Packaging Corporation currently has a consensus rating of “Buy” and an average price target of $26.29.

Shares of KapStone Paper and Packaging Corporation (NYSE KS) traded up 0.53% during midday trading on Friday, reaching $22.56. 120,215 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $22.24 and a 200-day moving average of $21.94. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 29.72 and a beta of 2.77. 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 issued its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.27 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.27. The business had revenue of $822.70 million for 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%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 EPS. On average, equities research analysts anticipate that KapStone Paper and Packaging Corporation will post $1.26 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Friday, September 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend was Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio is presently 51.95%.

In other news, VP Randy J. Nebel sold 10,000 shares of KapStone Paper and Packaging Corporation stock in a transaction on Thursday, July 27th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.09% of the company’s stock.

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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