GSA Capital Partners LLP Buys New Position in Karat Packaging Inc. $KRT

GSA Capital Partners LLP acquired a new position in Karat Packaging Inc. (NASDAQ:KRT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,274 shares of the company’s stock, valued at approximately $678,000. GSA Capital Partners LLP owned approximately 0.10% of Karat Packaging as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of KRT. Stifel Financial Corp grew its stake in shares of Karat Packaging by 1.8% in the fourth quarter. Stifel Financial Corp now owns 22,798 shares of the company’s stock valued at $515,000 after buying an additional 398 shares in the last quarter. First Trust Advisors LP lifted its holdings in Karat Packaging by 1.9% during the 4th quarter. First Trust Advisors LP now owns 27,345 shares of the company’s stock worth $617,000 after purchasing an additional 508 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Karat Packaging by 1.9% in the second quarter. Lazard Asset Management LLC now owns 40,390 shares of the company’s stock valued at $1,137,000 after acquiring an additional 770 shares during the period. Clearstead Advisors LLC raised its holdings in Karat Packaging by 188.8% in the 4th quarter. Clearstead Advisors LLC now owns 1,493 shares of the company’s stock valued at $34,000 after acquiring an additional 976 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Karat Packaging by 61.5% during the 4th quarter. CWM LLC now owns 2,651 shares of the company’s stock worth $60,000 after purchasing an additional 1,010 shares in the last quarter. 25.20% of the stock is owned by institutional investors and hedge funds.

Karat Packaging Stock Performance

Shares of KRT stock opened at $48.17 on Thursday. Karat Packaging Inc. has a one year low of $20.61 and a one year high of $50.81. The firm has a 50-day moving average of $37.61 and a 200-day moving average of $30.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.25 and a quick ratio of 1.25. The company has a market cap of $960.03 million, a P/E ratio of 19.27, a P/E/G ratio of 1.40 and a beta of 0.82.

Karat Packaging (NASDAQ:KRT) last announced its earnings results on Thursday, August 6th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $1.01. Karat Packaging had a return on equity of 30.62% and a net margin of 10.18%.The firm had revenue of $136.30 million for the quarter, compared to the consensus estimate of $135.46 million. Equities research analysts forecast that Karat Packaging Inc. will post 2.63 EPS for the current fiscal year.

Karat Packaging Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 21st will be paid a $0.47 dividend. The ex-dividend date is Friday, August 21st. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.45. This represents a $1.88 dividend on an annualized basis and a yield of 3.9%. Karat Packaging’s dividend payout ratio is presently 72.00%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. William Blair raised shares of Karat Packaging from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings raised Karat Packaging from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 12th. The Goldman Sachs Group lowered shares of Karat Packaging to a “neutral” rating in a research note on Thursday, June 4th. Wall Street Zen raised Karat Packaging from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Zacks Research cut shares of Karat Packaging from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $36.50.

Karat Packaging Company Profile

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.