Alpine Associates Management Inc. grew its position in shares of KapStone Paper and Packaging Corp. (NYSE:KS) by 15.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,614,600 shares of the basic materials company’s stock after acquiring an additional 210,200 shares during the quarter. KapStone Paper and Packaging comprises about 1.7% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Alpine Associates Management Inc.’s holdings in KapStone Paper and Packaging were worth $55,994,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in KS. Quantbot Technologies LP acquired a new stake in KapStone Paper and Packaging in the first quarter worth about $159,000. Wellington Shields Capital Management LLC acquired a new stake in KapStone Paper and Packaging in the first quarter worth about $206,000. Janus Henderson Group PLC acquired a new stake in KapStone Paper and Packaging in the second quarter worth about $208,000. Advisor Partners LLC acquired a new stake in KapStone Paper and Packaging in the second quarter worth about $215,000. Finally, GSA Capital Partners LLP acquired a new stake in KapStone Paper and Packaging in the first quarter worth about $216,000. 81.52% of the stock is owned by institutional investors.
Shares of KapStone Paper and Packaging stock opened at $34.47 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.38 and a debt-to-equity ratio of 1.22. KapStone Paper and Packaging Corp. has a 52 week low of $20.42 and a 52 week high of $35.01. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 1.03 and a beta of 3.24.
KapStone Paper and Packaging (NYSE:KS) last issued its quarterly earnings results on Wednesday, July 25th. The basic materials company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.48 by $0.10. KapStone Paper and Packaging had a net margin of 8.83% and a return on equity of 16.87%. The firm had revenue of $912.74 million for the quarter, compared to analysts’ expectations of $935.83 million. During the same period in the previous year, the business earned $0.27 earnings per share. KapStone Paper and Packaging’s revenue for the quarter was up 10.9% compared to the same quarter last year. analysts predict that KapStone Paper and Packaging Corp. will post 2.38 earnings per share for the current year.
Several equities research analysts recently weighed in on KS shares. Zacks Investment Research raised shares of KapStone Paper and Packaging from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Saturday, July 21st. ValuEngine downgraded shares of KapStone Paper and Packaging from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Eight analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $32.33.
About KapStone Paper and Packaging
KapStone Paper and Packaging Corporation produces and sells a range of containerboards, corrugated products, and specialty paper products in the United States and internationally. The company operates in two segments, Paper and Packaging, and Distribution. The Paper and Packaging segment offers containerboards consisting of linerboard and corrugated medium to manufacture corrugated containers for packaging products; and corrugated products.
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