JPMorgan Chase & Co. Reduces Position in KapStone Paper and Packaging Corp. (KS)

JPMorgan Chase & Co. lowered its position in KapStone Paper and Packaging Corp. (NYSE:KS) by 1.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,598,395 shares of the basic materials company’s stock after selling 51,195 shares during the period. JPMorgan Chase & Co. owned 2.68% of KapStone Paper and Packaging worth $56,826,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Victory Capital Management Inc. grew its holdings in KapStone Paper and Packaging by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,145 shares of the basic materials company’s stock worth $106,000 after acquiring an additional 771 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of KapStone Paper and Packaging by 4.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,947 shares of the basic materials company’s stock valued at $123,000 after buying an additional 239 shares during the period. Riverhead Capital Management LLC grew its holdings in shares of KapStone Paper and Packaging by 77.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,864 shares of the basic materials company’s stock valued at $183,000 after buying an additional 3,864 shares during the period. Flinton Capital Management LLC grew its holdings in shares of KapStone Paper and Packaging by 75.3% in the 2nd quarter. Flinton Capital Management LLC now owns 8,942 shares of the basic materials company’s stock valued at $184,000 after buying an additional 3,842 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of KapStone Paper and Packaging in the 3rd quarter valued at $188,000. 86.15% of the stock is owned by institutional investors and hedge funds.

In other KapStone Paper and Packaging news, Director John Chapman sold 70,765 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $20.80, for a total transaction of $1,471,912.00. Following the transaction, the director now owns 445,056 shares in the company, valued at approximately $9,257,164.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrea K. Tarbox sold 32,486 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $20.95, for a total transaction of $680,581.70. Following the transaction, the vice president now owns 157,336 shares in the company, valued at approximately $3,296,189.20. The disclosure for this sale can be found here. 13.09% of the stock is currently owned by corporate insiders.

KapStone Paper and Packaging Corp. (NYSE KS) traded up $0.39 during trading on Friday, hitting $21.85. 1,254,260 shares of the stock traded hands, compared to its average volume of 630,089. The firm has a market cap of $2,118.51, a price-to-earnings ratio of 21.01, a PEG ratio of 1.52 and a beta of 2.77. KapStone Paper and Packaging Corp. has a one year low of $19.59 and a one year high of $24.98. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 1.64.

KapStone Paper and Packaging (NYSE:KS) last announced its quarterly earnings results on Wednesday, October 25th. The basic materials company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.04). KapStone Paper and Packaging had a net margin of 2.29% and a return on equity of 11.12%. The company had revenue of $868.42 million during the quarter, compared to analyst estimates of $839.36 million. During the same quarter last year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. sell-side analysts anticipate that KapStone Paper and Packaging Corp. will post 1.11 earnings per share for the current fiscal year.

Several brokerages have recently issued reports on KS. ValuEngine raised shares of KapStone Paper and Packaging from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub cut shares of KapStone Paper and Packaging from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. KeyCorp reaffirmed a “hold” rating on shares of KapStone Paper and Packaging in a research report on Wednesday, October 25th. Stephens started coverage on shares of KapStone Paper and Packaging in a research report on Tuesday, October 24th. They set an “overweight” rating and a $28.00 price target on the stock. Finally, Zacks Investment Research cut shares of KapStone Paper and Packaging from a “hold” rating to a “sell” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $26.38.

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KapStone Paper and Packaging 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.

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

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