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Fri, Jan. 29, 5:39 PM
Mon, Jan. 25, 2:34 PM
- Concerns over pricing are running up and down the paper and packaging sector.
- A drop in prices during January could lead to even further erosion down the road warns, Citi.
- Downgrades: Citi lowers International Paper (IP -10.5%) and Packaging Corp. of America (PKG -13.1%) to Neutral from Buy, BAML takes Westrock (WRK -13.8%) to Neutral from Buy, Macquarie slams KapStone Paper & Packaging (KS -21.8%) with an Underperform rating.
- Also showing weakness are Domtar (UFS -7.4%), Orchids Paper Products (TIS -1.9%), P H Glatfelter (GLT -9.2%), and Clearwater Paper (CLW -6.4%).
Oct. 9, 2015, 10:16 AM
- Paper and packaging stocks are in rally mode off of positive signs in the sectors for pricing. The moves also arrive amid a broader rally in consumer products stocks this week.
- Also in the mix, there's a new study from RISI suggesting new Department of Commerce anti-dumping rules could benefit domestic suppliers.
- The bottom line is broad-based gains are being struck.
- Gainers include KapStone Paper and Packaging (KS +9.2%), Wausau Paper (WPP +2.1%), PH Glatfelter (RFP +1.9%), Domtar (UFS +0.9%), International Paper (IP +5.7%), Packaging Corporation of America (PKG +4.5%), WestRock Company (WRK +4.4%), Graphic Packaging Holding (GPK +1.1%).
Jun. 4, 2015, 10:04 AM
- Containerboard stocks are off slightly as pricing concerns due to oversupply linger in the background.
- The sector is also facing a headwind due to a new IRS proposal which would limit income for publicly traded partnerships.
- MeadWestvaco (NYSE:MWV) -1.4%, Rock-Tenn (NYSE:RKT) -1.5%, Packaging Corp of America (NYSE:PKG) -1.1%, Graphic Packaging (NYSE:GPK) -1.1%, International Paper (NYSE:IP) -0.5%, KapStone Paper and Packaging (NYSE:KS) -0.5%.
Apr. 21, 2015, 10:04 AM
- An earnings miss yesterday by Packaging Corporation of America (PKG -8.3%) is helping to take peers lower.
- The company also issued guidance below the expectations of analysts.
- White paper and containboard pricing is a concern in the sector.
- Previously: Packaging misses by $0.07, misses on revenue (Apr. 20 2015)
- Decliners: Rock-Tenn (NYSE:RKT) -2.6%, International Paper (NYSE:IP) -1.5%, MeadWestvaco (NYSE:MWV) -2.6%, KapStone Paper (NYSE:KS) -2.5%, Clearwater Paper (NYSE:CLW) -1.0%.
Mar. 31, 2015, 6:12 PM
- Rock-Tenn (NYSE:RKT) -5.1% AH after issuing downside Q2 EPS guidance of $0.70-$0.75, reduced from its previous outlook for $0.80-$0.90 and below $0.88 analyst consensus estimate.
- RKT says strong corrugated packaging business has been more than offset by the effects of winter weather including natural gas curtailment and challenging logistics execution which hit EPS by ~$0.06; a substantial electrical failure at the Panama City mill that resulted in lost production and increased maintenance costs of ~$0.04/share; and lower promotional activity that reduced sales in its merchandising displays business below the year-ago quarter.
Mar. 6, 2015, 2:58 PM
- Domtar (UFS +3.6%) shoots higher following headlines that the company received a favorable ruling from the International Trade Commission in the preliminary phase of anti-dumping and countervailing duty investigations concerning certain uncoated paper from Australia, Brazil, China, Indonesia and Portugal.
- Other paper packaging stocks are lower: IP -0.9%, PKG -1.9%, RKT -1.7%, MWV -1.8%, KS -1.5%.
Jan. 27, 2015, 1:20 PM
- Shares of Packaging Corp. of America (PKG -8%) decline after the company missed slightly with its Q4 report and issued disappointing guidance.
- Several sector peers are also lower: KapStone Paper & Packaging (NYSE:KS) -4.7%, Rock-Tenn (NYSE:RKT) -1.6%, International Paper (NYSE:IP) -1.3%.
- Yesterday, the sector was all smiles off M&A buzz.
Jan. 26, 2015, 12:46 PM
Jan. 26, 2015, 9:16 AM
- Shares of Rock-Tenn (NYSE:RKT) and MeadWestvaco (NYSE:MWV) are higher in early trading following an announcement on the merger between the two paper product companies
- The deal is the largest in the paper industry since 2005.
- MeadWestvaco has been under pressure from Starboard Value over its operating structure and strategy. It will be interesting to see if Starboard with its +6% stake will weigh in on the transaction.
- Starboard letter to MeadWestvaco from last summer (.pdf)
- Previously: Rock Tenn beats by $0.06, beats on revenue
- Previously: MeadWestvaco beats by $0.01, beats on revenue
- Previously: Rock-Tenn and MeadWestvaco to merge
- RKT +5.6% premarket to $66.50 and MWV +13.9% to $51.30.
Jan. 26, 2015, 9:14 AM
Sep. 11, 2014, 11:05 AM
- Presenting at the UBS Global Paper and Forest Products Conference this morning, International Paper (IP +2.5%) management says it's moved from a study phase on possible conversion to an MLP structure to a "more serious evaluation phase."
- At the same conference, KapStone (KS +2%) says it's taking a look at the MLP idea as well.
- Others in the industry also have their tails in the air: Rock-Tenn (RKT +2.2%), Packaging Corp. (PKG +1.3%), MeadWestvaco (MWV +1.9%).
- International Paper Tuesday night boosted its quarterly payout by 14% to $0.40 per share. The dividend is payable on Dec. 15 to holders of record on Nov. 17. The annualized yield is 3.2%.
Jul. 24, 2014, 2:04 PM
- Paper and containerboard stocks are notably strong as Perry Capital comes out positive on the group, citing a PWC study regarding the potential for MLP conversion.
- Perry believes managements can create master limited partnerships for their paper mills to drive share upside potential of 50%-100%, the fund firm says in its Q2 letter.
- CLW +12.4%, KS +9.7%, RKT +8.9%, IP +5.3%, PKG +4.8%.
Jun. 25, 2014, 5:42 PM
Mar. 4, 2014, 9:43 AM
- Rock-Tenn (RKT +4.2%) opens higher after late yesterday's news that it agreed to acquire the Simpson Tacoma Kraft paper mill in Tacoma, Wash., for ~$343M.
- RKT says the purchase price reflects an EBITDA multiple of less than 6x based on the mill's 2013 financial results and expected operating efficiencies, primarily due to the location of the mill on the west coast.
- In 2013, the mill produced 465K tons on two paper machines and two pulp dryers that made various paper grades including containerboard, specialty kraft paper and pulp; it also operates a 55 MW green biomass fuel cogeneration facility that sells electricity under a long-term contract.
- RKT says it will invest $60M in the mill over the next three years.
Jan. 15, 2014, 9:30 AM
- MeadWestvaco (MWV) +4.3% premarket after announcing plans to expand its cost-cutting efforts and simplify the structure of its packaging businesses.
- MWV expects the moves to lead to annual cost savings of $100M-$125M by the end of next year, with at savings of a least $75M expected this year.
- MWV also raises the amount it expects to return to shareholders to $700M from $665M, mostly from the sale of some timber lands to Plum Creek Timber in a $1.1B deal that closed last month.
- Sees Q4 earnings in line with current consensus estimates.
WestRock Co provides paper and packaging solutions in consumer and corrugated markets. The Company offers corrugated container, paperboard, partitions & protective packaging, containerboard and beverage multipacks.
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