Pioneer Investment Management Inc. cut its position in shares of KapStone Paper and Packaging Corporation (NYSE:KS) by 23.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,386,735 shares of the basic materials company’s stock after selling 425,351 shares during the period. Pioneer Investment Management Inc.’s holdings in KapStone Paper and Packaging Corporation were worth $28,608,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. Flinton Capital Management LLC boosted its stake in shares of KapStone Paper and Packaging Corporation by 7.9% in the first quarter. Flinton Capital Management LLC now owns 5,100 shares of the basic materials company’s stock worth $118,000 after buying an additional 374 shares during the period. Invictus RG purchased a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth approximately $153,000. Ameritas Investment Partners Inc. purchased a new stake in shares of KapStone Paper and Packaging Corporation during the first quarter worth approximately $172,000. State of Alaska Department of Revenue boosted its stake in shares of KapStone Paper and Packaging Corporation by 2.5% in the first quarter. State of Alaska Department of Revenue now owns 9,750 shares of the basic materials company’s stock worth $225,000 after buying an additional 240 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of KapStone Paper and Packaging Corporation by 389.6% in the first quarter. PNC Financial Services Group Inc. now owns 9,943 shares of the basic materials company’s stock worth $230,000 after buying an additional 7,912 shares during the period. Institutional investors and hedge funds own 82.03% of the company’s stock.

KapStone Paper and Packaging Corporation (NYSE KS) opened at 22.24 on Thursday. The stock’s 50 day moving average is $21.99 and its 200-day moving average is $22.30. KapStone Paper and Packaging Corporation has a 52-week low of $14.56 and a 52-week high of $24.98. The company has a market cap of $2.16 billion, a PE ratio of 29.30 and a beta of 2.84.

KapStone Paper and Packaging Corporation (NYSE:KS) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. KapStone Paper and Packaging Corporation had a net margin of 2.39% and a return on equity of 11.26%. The company had revenue of $822.70 million for the quarter, compared to analysts’ expectations of $831.52 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. KapStone Paper and Packaging Corporation’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that KapStone Paper and Packaging Corporation will post $1.26 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 12th. Investors of record on Thursday, June 29th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.80%. The ex-dividend date was Tuesday, June 27th. KapStone Paper and Packaging Corporation’s payout ratio is currently 51.95%.

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A number of analysts have commented on the stock. Deutsche Bank AG upped their price target on shares of KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Zacks Investment Research raised shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, July 19th. Vertical Research raised shares of KapStone Paper and Packaging Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 3rd. BidaskClub cut shares of KapStone Paper and Packaging Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $28.00 price target on shares of KapStone Paper and Packaging Corporation in a research report on Tuesday, July 18th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $26.33.

In related news, VP Randy J. Nebel sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the vice president now owns 47,404 shares of the company’s stock, valued at $1,137,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David P. Storch acquired 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $100,000.00. Following the purchase, the director now directly owns 45,127 shares of the company’s stock, valued at $902,540. The disclosure for this purchase can be found here. Insiders own 13.30% of the company’s stock.

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.

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

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