KapStone Paper and Packaging Corporation (KS) : The traders have covered their outstanding shorts in KapStone Paper and Packaging Corporation (KS) to the tune of -36,101 shares, a change of -1%. As on Jul 29, 2016, the outstanding shorts on the stock were 3,722,203 shares, however, by August 15, 2016, the shorts had reduced to 3,686,102 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 4.3% of the free float of the stock. It takes 4 days to cover the outstanding short positions. The stock has an average daily volume of 952,719 shares. The short interest information was released on Wednesday Aug 24th after the market close.
KapStone Paper and Packaging Corporation (NYSE:KS): The stock opened at $15.52 on Wednesday but the bulls could not build on the opening and the stock topped out at $15.52 for the day. The stock traded down to $15.07 during the day, due to lack of any buying support eventually closed down at $15.11 with a loss of -2.83% for the day. The stock had closed at $15.55 on the previous day. The total traded volume was 502,967 shares.
In a related news, The director, of Kapstone Paper & Packaging Corp, Furer Jonathan R had unloaded 25,000 shares at $15.09 per share in a transaction on August 4, 2016. The total value of transaction was $377,250. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
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 Companys 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.