Karat Packaging Inc. (NASDAQ:KRT) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC raised its stake in shares of Karat Packaging Inc. (NASDAQ:KRTFree Report) by 484.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 183,620 shares of the company’s stock after acquiring an additional 152,207 shares during the quarter. Acadian Asset Management LLC’s holdings in Karat Packaging were worth $4,229,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rice Hall James & Associates LLC bought a new position in shares of Karat Packaging in the third quarter worth about $1,937,000. Ancora Advisors LLC increased its stake in shares of Karat Packaging by 651.9% in the fourth quarter. Ancora Advisors LLC now owns 65,819 shares of the company’s stock worth $946,000 after purchasing an additional 57,065 shares during the period. Punch & Associates Investment Management Inc. bought a new position in shares of Karat Packaging in the first quarter worth about $712,000. Los Angeles Capital Management LLC bought a new position in shares of Karat Packaging in the third quarter worth about $1,173,000. Finally, Wellington Management Group LLP increased its stake in shares of Karat Packaging by 24.2% in the first quarter. Wellington Management Group LLP now owns 215,836 shares of the company’s stock worth $2,877,000 after purchasing an additional 42,100 shares during the period. 21.11% of the stock is currently owned by institutional investors.

Karat Packaging Trading Up 1.6 %

Shares of KRT opened at $27.77 on Friday. Karat Packaging Inc. has a 12-month low of $12.54 and a 12-month high of $28.91. The company has a quick ratio of 1.90, a current ratio of 3.47 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $554.29 million, a price-to-earnings ratio of 16.73 and a beta of 0.98. The stock’s 50-day moving average price is $24.81 and its 200 day moving average price is $23.17.

Karat Packaging Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Wednesday, February 21st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.32%. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, February 20th. Karat Packaging’s payout ratio is currently 72.29%.

Wall Street Analyst Weigh In

Separately, Truist Financial dropped their price objective on Karat Packaging from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, November 10th.

Check Out Our Latest Report on Karat Packaging

Karat Packaging Profile

(Free Report)

Karat Packaging Inc, together with its subsidiaries, manufactures and distributes 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.

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Institutional Ownership by Quarter for Karat Packaging (NASDAQ:KRT)

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