Alliancebernstein L.P. Boosts Stake in KapStone Paper and Packaging Corp. (KS)

Alliancebernstein L.P. lifted its position in KapStone Paper and Packaging Corp. (NYSE:KS) by 37.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 315,118 shares of the basic materials company’s stock after purchasing an additional 86,377 shares during the quarter. Alliancebernstein L.P. owned 0.32% of KapStone Paper and Packaging worth $10,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Metropolitan Life Insurance Co. NY boosted its holdings in KapStone Paper and Packaging by 5.4% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 28,243 shares of the basic materials company’s stock valued at $974,000 after acquiring an additional 1,456 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in KapStone Paper and Packaging by 28.7% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 7,618 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 1,698 shares during the period. OppenheimerFunds Inc. boosted its holdings in KapStone Paper and Packaging by 3.0% during the 2nd quarter. OppenheimerFunds Inc. now owns 60,325 shares of the basic materials company’s stock valued at $2,081,000 after acquiring an additional 1,751 shares during the period. Aperio Group LLC boosted its holdings in KapStone Paper and Packaging by 8.7% during the 2nd quarter. Aperio Group LLC now owns 25,296 shares of the basic materials company’s stock valued at $873,000 after acquiring an additional 2,034 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in KapStone Paper and Packaging by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,302,607 shares of the basic materials company’s stock valued at $44,941,000 after acquiring an additional 3,579 shares during the period. Hedge funds and other institutional investors own 81.51% of the company’s stock.

Separately, Zacks Investment Research upgraded KapStone Paper and Packaging from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 31st. Eight equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $32.33.

Shares of KS stock opened at $34.95 on Friday. The stock has a market cap of $3.42 billion, a P/E ratio of 26.48, a P/E/G ratio of 1.06 and a beta of 2.79. KapStone Paper and Packaging Corp. has a 1-year low of $20.51 and a 1-year high of $35.10. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.28 and a quick ratio of 1.39.

KapStone Paper and Packaging (NYSE:KS) last issued its earnings results on Tuesday, October 23rd. The basic materials company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.10. The company had revenue of $893.60 million during the quarter, compared to analysts’ expectations of $923.10 million. KapStone Paper and Packaging had a return on equity of 18.99% and a net margin of 9.99%. KapStone Paper and Packaging’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 EPS. As a group, equities research analysts expect that KapStone Paper and Packaging Corp. will post 2.36 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Alliancebernstein L.P. Boosts Stake in KapStone Paper and Packaging Corp. (KS)” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this piece of content can be read at https://www.americanbankingnews.com/2018/12/08/alliancebernstein-l-p-boosts-stake-in-kapstone-paper-and-packaging-corp-ks.html.

KapStone Paper and Packaging Company Profile

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.

See Also: Do stock splits help investors?

Want to see what other hedge funds are holding KS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KapStone Paper and Packaging Corp. (NYSE:KS).

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

Receive News & Ratings for KapStone Paper and Packaging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KapStone Paper and Packaging and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply