O Shaughnessy Asset Management LLC Buys 15,786 Shares of Karat Packaging Inc. (NASDAQ:KRT)

O Shaughnessy Asset Management LLC raised its stake in shares of Karat Packaging Inc. (NASDAQ:KRT) by 32.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 64,049 shares of the company’s stock after acquiring an additional 15,786 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.32% of Karat Packaging worth $1,832,000 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 stock. Acadian Asset Management LLC raised its holdings in shares of Karat Packaging by 11.7% in the first quarter. Acadian Asset Management LLC now owns 261,895 shares of the company’s stock valued at $7,489,000 after buying an additional 27,370 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Karat Packaging by 0.8% in the first quarter. Vanguard Group Inc. now owns 348,678 shares of the company’s stock valued at $9,976,000 after buying an additional 2,804 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Karat Packaging in the first quarter valued at about $115,000. Janney Montgomery Scott LLC increased its position in Karat Packaging by 8.6% in the first quarter. Janney Montgomery Scott LLC now owns 26,444 shares of the company’s stock worth $757,000 after purchasing an additional 2,096 shares during the period. Finally, Rice Hall James & Associates LLC increased its position in Karat Packaging by 5.0% in the first quarter. Rice Hall James & Associates LLC now owns 83,206 shares of the company’s stock worth $2,381,000 after purchasing an additional 3,996 shares during the period. 25.20% of the stock is owned by institutional investors.

Karat Packaging Price Performance

Karat Packaging stock opened at $28.34 on Thursday. The firm has a market capitalization of $566.23 million, a P/E ratio of 19.15 and a beta of 1.06. Karat Packaging Inc. has a 1 year low of $17.23 and a 1 year high of $30.94. The business has a 50-day moving average of $28.53 and a 200-day moving average of $27.52. The company has a current ratio of 3.33, a quick ratio of 1.69 and a debt-to-equity ratio of 0.30.

Karat Packaging (NASDAQ:KRT) last posted its earnings results on Thursday, May 9th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.04). Karat Packaging had a return on equity of 21.94% and a net margin of 7.31%. The company had revenue of $95.61 million for the quarter, compared to analyst estimates of $99.76 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, equities analysts anticipate that Karat Packaging Inc. will post 1.95 EPS for the current year.

Karat Packaging Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 17th were given a $0.35 dividend. The ex-dividend date was Thursday, May 16th. This is a positive change from Karat Packaging’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 4.94%. Karat Packaging’s payout ratio is currently 94.59%.

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.