KapStone Paper and Packaging Corp. (KS) is Water Island Capital LLC’s 10th Largest Position

Water Island Capital LLC cut its holdings in KapStone Paper and Packaging Corp. (NYSE:KS) by 36.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,541,354 shares of the basic materials company’s stock after selling 893,745 shares during the quarter. KapStone Paper and Packaging accounts for 2.8% of Water Island Capital LLC’s portfolio, making the stock its 10th biggest holding. Water Island Capital LLC owned 1.57% of KapStone Paper and Packaging worth $52,267,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of KS. Westpac Banking Corp acquired a new position in KapStone Paper and Packaging in the third quarter valued at $1,887,000. Alpine Associates Management Inc. grew its position in KapStone Paper and Packaging by 10.8% during the third quarter. Alpine Associates Management Inc. now owns 1,788,800 shares of the basic materials company’s stock valued at $60,659,000 after acquiring an additional 174,200 shares during the period. FMR LLC grew its position in KapStone Paper and Packaging by 287.3% during the third quarter. FMR LLC now owns 156,633 shares of the basic materials company’s stock valued at $5,312,000 after acquiring an additional 116,195 shares during the period. Kellner Capital LLC grew its position in KapStone Paper and Packaging by 7.1% during the third quarter. Kellner Capital LLC now owns 201,200 shares of the basic materials company’s stock valued at $6,823,000 after acquiring an additional 13,400 shares during the period. Finally, BlackRock Inc. grew its position in KapStone Paper and Packaging by 3.3% during the third quarter. BlackRock Inc. now owns 13,216,473 shares of the basic materials company’s stock valued at $448,171,000 after acquiring an additional 422,326 shares during the period. Hedge funds and other institutional investors own 81.51% of the company’s stock.

KS stock opened at $34.95 on Monday. KapStone Paper and Packaging Corp. has a 12-month low of $20.51 and a 12-month high of $35.10. The company has a quick ratio of 1.39, a current ratio of 2.28 and a debt-to-equity ratio of 1.10. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.06 and a beta of 2.79.

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, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.10. KapStone Paper and Packaging had a return on equity of 18.99% and a net margin of 9.99%. The company had revenue of $893.60 million during the quarter, compared to the consensus estimate of $923.10 million. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. On average, research analysts anticipate that KapStone Paper and Packaging Corp. will post 2.36 earnings per share for the current year.

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

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

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