Martingale Asset Management L P Makes New $339,000 Investment in Karat Packaging Inc. (NASDAQ:KRT)

Martingale Asset Management L P acquired a new stake in Karat Packaging Inc. (NASDAQ:KRT - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,213 shares of the company's stock, valued at approximately $339,000. Martingale Asset Management L P owned about 0.06% of Karat Packaging as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Karat Packaging by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 178,645 shares of the company's stock worth $4,626,000 after purchasing an additional 24,020 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Karat Packaging by 5.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 19,720 shares of the company's stock valued at $511,000 after acquiring an additional 1,053 shares during the last quarter. Barclays PLC grew its holdings in Karat Packaging by 12.5% during the 3rd quarter. Barclays PLC now owns 71,153 shares of the company's stock worth $1,843,000 after acquiring an additional 7,911 shares during the period. Exchange Traded Concepts LLC bought a new stake in shares of Karat Packaging during the 4th quarter valued at $291,000. Finally, Janus Henderson Group PLC boosted its position in shares of Karat Packaging by 7.1% in the 3rd quarter. Janus Henderson Group PLC now owns 26,567 shares of the company's stock worth $688,000 after purchasing an additional 1,760 shares during the last quarter. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, William Blair downgraded shares of Karat Packaging from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 2nd.

Karat Packaging Trading Down 0.3 %

KRT stock traded down $0.07 during midday trading on Friday, hitting $24.39. 65,178 shares of the company's stock were exchanged, compared to its average volume of 38,320. Karat Packaging Inc. has a one year low of $23.00 and a one year high of $33.89. 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 company has a market cap of $488.70 million, a PE ratio of 17.42 and a beta of 1.12. The stock's fifty day moving average price is $28.10 and its 200-day moving average price is $28.92.

Karat Packaging (NASDAQ:KRT - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.14). Karat Packaging had a net margin of 6.78% and a return on equity of 19.84%. The business had revenue of $101.65 million during the quarter, compared to analyst estimates of $102.27 million. Research analysts predict that Karat Packaging Inc. will post 1.66 earnings per share for the current fiscal year.

Karat Packaging Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Monday, February 24th were given a $0.45 dividend. This is a boost from Karat Packaging's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 7.38%. The ex-dividend date of this dividend was Monday, February 24th. Karat Packaging's payout ratio is currently 120.81%.

Karat Packaging 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.