Winpak Ltd. (TSE:WPK – Get Free Report)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$50.47 and last traded at C$50.29, with a volume of 63607 shares traded. The stock had previously closed at C$50.12.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on WPK shares. BMO Capital Markets lifted their price target on shares of Winpak from C$50.00 to C$52.00 in a research report on Friday, October 25th. National Bankshares set a C$55.00 target price on shares of Winpak and gave the company an “outperform” rating in a report on Thursday, September 26th. National Bank Financial upgraded Winpak to a “strong-buy” rating in a research note on Wednesday, September 25th. Finally, CIBC boosted their price objective on shares of Winpak from C$53.00 to C$54.00 in a research report on Monday, October 28th.
Get Our Latest Stock Report on Winpak
Winpak Stock Up 0.8 %
Winpak Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Friday, October 11th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $0.20 dividend on an annualized basis and a yield of 0.40%. This is a boost from Winpak’s previous quarterly dividend of $0.03. Winpak’s dividend payout ratio (DPR) is 6.58%.
About Winpak
Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. The company operates is Flexible Packaging, Rigid Packaging and Flexible Lidding, and Packaging Machinery segments. The Flexible Packaging segment provides modified atmosphere packaging products for fresh and processed meats, poultry, cheese, medical device packaging, high-performance pouch, and high-barrier films for converting applications; specialty films, including barrier and non-barrier films converting applications, such as printing, laminating and bag making, as well as shrink bags; and biaxially oriented nylon films for food packaging and industrial applications.
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