Public Employees Retirement System of Ohio cut its stake in KapStone Paper and Packaging Corporation (NYSE:KS) by 10.3% during the first quarter, Holdings Channel reports. The fund owned 5,708 shares of the basic materials company’s stock after selling 656 shares during the period. Public Employees Retirement System of Ohio’s holdings in KapStone Paper and Packaging Corporation were worth $132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KS. Teachers Advisors LLC raised its position in shares of KapStone Paper and Packaging Corporation by 4.4% in the fourth quarter. Teachers Advisors LLC now owns 147,941 shares of the basic materials company’s stock valued at $3,262,000 after buying an additional 6,172 shares during the last quarter. Bank of Montreal Can raised its position in shares of KapStone Paper and Packaging Corporation by 14.4% in the first quarter. Bank of Montreal Can now owns 31,793 shares of the basic materials company’s stock valued at $734,000 after buying an additional 4,007 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of KapStone Paper and Packaging Corporation by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 35,800 shares of the basic materials company’s stock valued at $827,000 after buying an additional 500 shares during the last quarter. Legato Capital Management LLC raised its position in shares of KapStone Paper and Packaging Corporation by 2,210.0% in the first quarter. Legato Capital Management LLC now owns 82,606 shares of the basic materials company’s stock valued at $3,576,000 after buying an additional 79,030 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position 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 valued at $225,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 82.03% of the company’s stock.

KapStone Paper and Packaging Corporation (NYSE:KS) traded down 0.23% on Friday, hitting $21.69. The stock had a trading volume of 796,070 shares. KapStone Paper and Packaging Corporation has a 1-year low of $14.56 and a 1-year high of $24.98. The company has a market cap of $2.10 billion, a P/E ratio of 28.58 and a beta of 2.84. The stock has a 50 day moving average price of $22.04 and a 200 day moving average price of $22.29.

KapStone Paper and Packaging Corporation (NYSE:KS) last released its quarterly earnings data on Wednesday, July 26th. The basic materials company reported $0.27 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 business had revenue of $822.70 million during the quarter, compared to the consensus estimate of $831.52 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, equities research analysts expect that KapStone Paper and Packaging Corporation will post $1.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 28th. KapStone Paper and Packaging Corporation’s dividend payout ratio (DPR) is presently 51.95%.

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A number of research analysts have recently weighed in on the company. Royal Bank Of Canada restated a “buy” rating and issued a $26.00 target price on shares of KapStone Paper and Packaging Corporation in a report on Tuesday, April 18th. Zacks Investment Research lowered KapStone Paper and Packaging Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, April 19th. Deutsche Bank AG raised their target price on KapStone Paper and Packaging Corporation from $26.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Vertical Research lowered KapStone Paper and Packaging Corporation from a “buy” rating to a “hold” rating in a report on Thursday, April 27th. Finally, Barclays PLC dropped their target price on KapStone Paper and Packaging Corporation from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 1st. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.33.

In related news, Director David P. Storch acquired 5,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of $20.00 per share, with a total value of $100,000.00. Following the acquisition, the director now directly owns 45,127 shares of the company’s stock, valued at $902,540. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Randy J. Nebel sold 10,000 shares of the 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 transaction, the vice president now directly owns 47,404 shares of the company’s stock, valued at approximately $1,137,696. The disclosure for this sale can be found here. 13.30% of the stock is owned by corporate insiders.

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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