February 13, 2017: KapStone Paper and Packaging Corporation has announced to its customers that, effective with March 13, 2017 shipments, the price of all North America containerboard products will increase by $50 per ton, the price for all corrugated boxes will increase by 10 percent, and the price for all corrugated sheets will increase by 12 percent.
Awesome, that was our catalyst for entry back on January 25, 2017, per BMO Capital Markets assessment that the containerboard and pulp prices market was strong and favored producers.
February 1, 2017: KapStone Paper and Packaging Corp acquires Associated Packaging Incorporated; no terms disclosed. Associated Packaging Incorporated is headquartered in Greer, South Carolina and has 77 employees.
The CEO of KapStone Paper Roger W. Stone said, “The acquisition of API further enhances KapStone’s footprint in the strategic Southeast market. The acquisition strengthens our goal of increasing integration, providing additional internal opportunities for our overall business. We believe API brings immediate value to our overall business strategy.”
January 25, 2017: BMO Capital Markets reiterates their Outperform rating on KapStone Paper and Packaging and sets a price target of $28. BMO Capital raised the price target on Kapstone Paper to $28 from $24 citing improved fundamentals in domestic as well as offshore markets.
All paper and packaging stocks are moving higher on stronger-than-expected market conditions in containerboard and pulp prices.
The money flow has exploded higher on rising volume into the upward move over the last four trading days.
KapStone Paper and Packaging Stock Chart
Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is the fifth largest producer of containerboard and corrugated packaging products and is the largest kraft paper producer in the United States. The Company is the parent company of KapStone Kraft Paper Corporation and KapStone Container Corporation which includes four paper mills and 21 converting plants, respectively, across the U.S. The business employs approximately 4,600 people.