Karat Packaging Inc. (KRT) to Issue Quarterly Dividend of $0.45 on May 28th

Karat Packaging Inc. (NASDAQ:KRT) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Thursday, May 21st will be paid a dividend of 0.45 per share on Thursday, May 28th. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Thursday, May 21st.

Karat Packaging has a payout ratio of 97.8% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Karat Packaging to earn $2.24 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 80.4%.

Karat Packaging Price Performance

Shares of KRT opened at $27.46 on Tuesday. The firm has a market cap of $548.10 million, a PE ratio of 17.38, a P/E/G ratio of 1.20 and a beta of 0.93. The company has a current ratio of 2.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $27.75 and a two-hundred day simple moving average of $25.10. Karat Packaging has a 1-year low of $20.61 and a 1-year high of $32.68.

Karat Packaging (NASDAQ:KRT) last announced its earnings results on Thursday, May 7th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $116.95 million during the quarter, compared to analyst estimates of $112.98 million. Karat Packaging had a net margin of 6.61% and a return on equity of 19.87%. On average, equities analysts anticipate that Karat Packaging will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Karat Packaging

Several hedge funds and other institutional investors have recently modified their holdings of KRT. State of Alaska Department of Revenue purchased a new stake in shares of Karat Packaging in the 3rd quarter worth $27,000. Clearstead Advisors LLC increased its stake in shares of Karat Packaging by 188.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock worth $34,000 after purchasing an additional 976 shares in the last quarter. CWM LLC increased its stake in shares of Karat Packaging by 378.4% in the 3rd quarter. CWM LLC now owns 1,641 shares of the company’s stock worth $41,000 after purchasing an additional 1,298 shares in the last quarter. Quarry LP purchased a new stake in shares of Karat Packaging in the 3rd quarter worth $70,000. Finally, Deutsche Bank AG increased its stake in shares of Karat Packaging by 142.8% in the 4th quarter. Deutsche Bank AG now owns 3,861 shares of the company’s stock worth $87,000 after purchasing an additional 2,271 shares in the last quarter. 25.20% of the stock is currently owned by hedge funds and other institutional investors.

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.