Karat Packaging Inc. (NASDAQ:KRT) Announces Quarterly Dividend of $0.45

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Friday, February 6th. Stockholders of record on Friday, February 20th will be given a dividend of 0.45 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, February 20th.

Karat Packaging has a payout ratio of 97.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Karat Packaging to earn $1.80 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 100.0%.

Karat Packaging Stock Up 1.3%

KRT stock traded up $0.33 during trading on Friday, reaching $25.94. 62,927 shares of the company traded hands, compared to its average volume of 69,887. The business has a 50 day simple moving average of $23.54 and a 200 day simple moving average of $24.27. Karat Packaging has a 12 month low of $20.61 and a 12 month high of $33.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 2.14. The company has a market capitalization of $521.29 million, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.51 and a beta of 1.09.

Karat Packaging (NASDAQ:KRT) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $124.52 million for the quarter, compared to analysts’ expectations of $124.09 million. Karat Packaging had a net margin of 6.67% and a return on equity of 18.98%. On average, equities research analysts anticipate that Karat Packaging will post 1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRT. KTF Investments LLC purchased a new stake in shares of Karat Packaging in the fourth quarter worth about $5,075,000. Polar Asset Management Partners Inc. purchased a new stake in Karat Packaging in the 3rd quarter worth approximately $5,039,000. Ranger Investment Management L.P. grew its stake in shares of Karat Packaging by 105.7% during the 2nd quarter. Ranger Investment Management L.P. now owns 320,556 shares of the company’s stock worth $9,027,000 after purchasing an additional 164,716 shares during the period. Marshall Wace LLP purchased a new position in shares of Karat Packaging during the 2nd quarter valued at approximately $4,312,000. Finally, CWA Asset Management Group LLC purchased a new position in shares of Karat Packaging during the 4th quarter valued at approximately $2,398,000. 25.20% of the stock is owned by institutional investors and hedge funds.

About Karat Packaging

Karat Packaging Technologies, Inc (NASDAQ: KRT) is a U.S.-based provider of premium packaging solutions for consumer goods and industrial products. The company specializes in the design, manufacture and delivery of high-quality litho-laminated folding cartons, tubes and flexible packaging. Karat Packaging operates an integrated production model that combines prepress, printing, converting and finishing capabilities to support the branding and shelf-appeal needs of its customers.

The company serves a diverse range of end markets, including food and beverage, confectionery, health and beauty, pharmaceuticals, specialty chemicals and promotional packaging.