KP Tissue (TSE:KPT) Sets New 52-Week High After Dividend Announcement

Key Points

• KP Tissue Inc. achieved a new 52-week high at C$9.64 following the announcement of a $0.18 dividend, set to be paid on October 15th, which corresponds to an annual yield of 7.6%.
• The company has a market capitalization of C$95.04 million and a P/E ratio of 14.89, indicating moderate valuation metrics.
• Several analysts have raised their price targets for KP Tissue, with recommendations varying from "hold" to "sector perform", reflecting cautious optimism about the stock's performance.

KP Tissue Inc. (TSE:KPT - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as C$9.64 and last traded at C$9.53, with a volume of 32350 shares changing hands. The stock had previously closed at C$9.44.The newly announced dividend which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 7.6%. KP Tissue's dividend payout ratio is 112.73%.

Analyst Ratings Changes

Several research firms recently weighed in on KPT. Desjardins raised their price objective on KP Tissue from C$8.50 to C$9.50 and gave the company a "hold" rating in a research note on Thursday, May 22nd. TD Securities raised their price objective on KP Tissue from C$8.00 to C$9.00 and gave the company a "hold" rating in a research note on Thursday, May 22nd. Finally, National Bankshares raised their price objective on KP Tissue from C$8.50 to C$9.50 and gave the company a "sector perform" rating in a research note on Thursday, May 22nd.

KP Tissue Stock Performance

The company has a market capitalization of C$95.04 million, a P/E ratio of 14.89, a price-to-earnings-growth ratio of -0.88 and a beta of 0.37. The business has a 50 day moving average of C$9.11 and a 200-day moving average of C$8.47.

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.

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