KP Tissue (TSE:KPT) Sets New 52-Week High - Here's What Happened

Key Points

• KP Tissue Inc. (TSE:KPT) reached a new 52-week high with shares trading at C$9.66 during mid-day trading, an increase from its previous close of C$9.60.
• Brokerage firms have raised their target prices for KP Tissue, with National Bankshares and Desjardins setting it to C$10.00, indicating a "Hold" rating consensus among analysts.
• The company announced a quarterly dividend of $0.18 per share, yielding 7.4%, with a payout ratio currently at 112.73%.

KP Tissue Inc. (TSE:KPT - Get Free Report)'s stock price hit a new 52-week high on Tuesday . The company traded as high as C$9.66 and last traded at C$9.66, with a volume of 10377 shares trading hands. The stock had previously closed at C$9.60.

Analysts Set New Price Targets

KPT has been the subject of a number of research analyst reports. TD Securities boosted their target price on shares of KP Tissue from C$8.00 to C$9.00 and gave the stock a "hold" rating in a research note on Thursday, May 22nd. National Bankshares boosted their target price on KP Tissue from C$9.50 to C$10.00 and gave the company a "sector perform" rating in a research note on Thursday, August 14th. Finally, Desjardins lifted their price objective on KP Tissue from C$9.50 to C$10.00 and gave the company a "hold" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$9.38.

KP Tissue Stock Performance

The firm has a market capitalization of C$94.84 million, a price-to-earnings ratio of 14.86, a PEG ratio of -0.88 and a beta of 0.37. The company has a fifty day moving average of C$9.19 and a two-hundred day moving average of C$8.56.

KP Tissue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.6%. KP Tissue's dividend payout ratio is 112.73%.

About KP Tissue

KP Tissue Inc, through its interest in Kruger Products L.P., produces, distributes, markets, and sells a range of disposable tissue products in Canada and the United States. The company operates through two segments, Consumer and Away-From-Home. It offers bathroom and facial tissues, paper towels, and napkins.