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

Karat Packaging Inc. (NASDAQ:KRT) declared a quarterly dividend on Friday, February 6th. Stockholders of record on Friday, February 20th will be paid a dividend of 0.45 per share on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 7.0%. The ex-dividend date of this dividend is Friday, February 20th.

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. 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 Trading Up 0.9%

Shares of KRT stock opened at $25.85 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.14 and a quick ratio of 1.09. The company has a market cap of $519.59 million, a price-to-earnings ratio of 17.23, a PEG ratio of 1.48 and a beta of 1.09. Karat Packaging has a 1 year low of $20.61 and a 1 year high of $33.89. The firm has a fifty day moving average price of $23.61 and a 200-day moving average price of $24.26.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRT. Vanguard Group Inc. raised its position in shares of Karat Packaging by 12.0% during the third quarter. Vanguard Group Inc. now owns 477,450 shares of the company’s stock valued at $12,037,000 after buying an additional 51,179 shares during the last quarter. Wasatch Advisors LP grew its stake in Karat Packaging by 3.3% during the second quarter. Wasatch Advisors LP now owns 330,961 shares of the company’s stock valued at $9,320,000 after acquiring an additional 10,617 shares in the last quarter. Ranger Investment Management L.P. increased its holdings in Karat Packaging by 0.6% in the 3rd quarter. Ranger Investment Management L.P. now owns 322,536 shares of the company’s stock valued at $8,131,000 after acquiring an additional 1,980 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Karat Packaging by 13.7% in the 2nd quarter. Acadian Asset Management LLC now owns 279,361 shares of the company’s stock worth $7,863,000 after purchasing an additional 33,627 shares in the last quarter. Finally, De Lisle Partners LLP lifted its stake in Karat Packaging by 53.6% in the 2nd quarter. De Lisle Partners LLP now owns 229,143 shares of the company’s stock worth $6,444,000 after purchasing an additional 80,000 shares in the last quarter. 25.20% of the stock is currently owned by 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.