Karat Packaging (NASDAQ:KRT) Sets New 1-Year High – Here’s Why

Karat Packaging Inc. (NASDAQ:KRT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.91 and last traded at $31.80, with a volume of 7939 shares trading hands. The stock had previously closed at $31.48.

Karat Packaging Trading Up 1.0 %

The stock’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $27.65. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.82 and a current ratio of 3.12. The firm has a market cap of $636.36 million, a PE ratio of 22.69 and a beta of 1.08.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th were given a $0.40 dividend. The ex-dividend date was Wednesday, November 20th. This represents a $1.60 annualized dividend and a yield of 5.03%. This is an increase from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s payout ratio is presently 114.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KRT. US Bancorp DE purchased a new stake in Karat Packaging during the 3rd quarter valued at $30,000. Gladius Capital Management LP purchased a new stake in shares of Karat Packaging during the second quarter worth about $33,000. Copeland Capital Management LLC bought a new stake in shares of Karat Packaging in the third quarter worth about $49,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Karat Packaging in the second quarter worth about $52,000. Finally, Nisa Investment Advisors LLC increased its holdings in Karat Packaging by 497.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,676 shares of the company’s stock valued at $95,000 after purchasing an additional 3,061 shares during the period. Institutional investors own 25.20% of the company’s stock.

Karat Packaging Company Profile

Karat Packaging Inc, together with its subsidiaries, engages in the manufacture and distribution of single-use disposable products in plastic, paper, biopolymer-based, and other compostable forms used in various restaurant and foodservice settings. It provides food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves, and other products under the Karat Earth brand.