Paradigm Capital Management Incny buys $22.8 Million stake in KapStone Paper and Packaging Corp. (KS)

KapStone Paper and Packaging Corp. (KS) : Paradigm Capital Management Incny scooped up 241,700 additional shares in KapStone Paper and Packaging Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 1,578,550 shares of KapStone Paper and Packaging Corp. which is valued at $22.8 Million.KapStone Paper and Packaging Corp. makes up approximately 2.96% of Paradigm Capital Management Incny’s portfolio.

Other Hedge Funds, Including , Group One Trading boosted its stake in KS in the latest quarter, The investment management firm added 2,297 additional shares and now holds a total of 3,542 shares of KapStone Paper and Packaging Corp. which is valued at $51,182. KapStone Paper and Packaging Corp. makes up approx 0.01% of Group One Trading’s portfolio.Manufacturers Life Insurance Company The boosted its stake in KS in the latest quarter, The investment management firm added 1,226 additional shares and now holds a total of 56,734 shares of KapStone Paper and Packaging Corp. which is valued at $819,806. Argent Trust Co sold out all of its stake in KS during the most recent quarter. The investment firm sold 10,690 shares of KS which is valued $154,471.Ftb Advisors boosted its stake in KS in the latest quarter, The investment management firm added 363 additional shares and now holds a total of 1,070 shares of KapStone Paper and Packaging Corp. which is valued at $15,462. Nisa Investment Advisors L.l.c. added KS to its portfolio by purchasing 900 company shares during the most recent quarter which is valued at $14,301.

KapStone Paper and Packaging Corp. opened for trading at $13.91 and hit $14.205 on the upside on Friday, eventually ending the session at $14.07, with a gain of 1.44% or 0.2 points. The heightened volatility saw the trading volume jump to 7,34,034 shares. Company has a market cap of $1,358 M.

On the company’s financial health, KapStone Paper and Packaging Corp. reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.22. The company had revenue of $738.00 million for the quarter, compared to analysts expectations of $754.71 million. The company’s revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Investors should note that on May 11, 2016, KapStone Paper and Packaging Corp. announced a cash dividend of $0.1000. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 13, 2016.

Many Wall Street Analysts have commented on KapStone Paper and Packaging Corp.. Company shares were Reiterated by Barclays on May 2, 2016 to “Overweight”, Firm has raised the Price Target to $ 18 from a previous price target of $16 .KapStone Paper and Packaging Corp. was Downgraded by Dundee to ” Neutral” on Apr 20, 2016. KapStone Paper and Packaging Corp. was Initiated by BofA/Merrill to “Underperform” on Apr 6, 2016.

KapStone Paper and Packaging Corporation is engaged in manufacture and sale of containerboard corrugated products and specialty paper for industrial and consumer markets. Containerboard consisting of linerboard and corrugated medium is used to manufacture corrugated containers for packaging products. The Company produces three general categories of kraft paper: Multiwall paper; Specialty products and Lightweight paper. Specialty products are also used to produce shingle wrap end caps roll wrap pet food cement and chemicals grocery bags and dunnage bags. The Company’s specialty paper products are manufactured for a variety of converters including laminators coaters insulation manufacturers agricultural product processors and food product packaging producers. As of December 31 2014 the Company operated 21 corrugated products manufacturing plants. The Company also has multi-color printing capabilities to make graphics boxes and display.

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