GSA Capital Partners LLP Has $890,000 Stake in Karat Packaging Inc. (NASDAQ:KRT)

GSA Capital Partners LLP increased its holdings in shares of Karat Packaging Inc. (NASDAQ:KRT) by 186.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 34,366 shares of the company’s stock after acquiring an additional 22,365 shares during the quarter. GSA Capital Partners LLP’s holdings in Karat Packaging were worth $890,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of KRT. LSV Asset Management acquired a new position in Karat Packaging in the 2nd quarter valued at approximately $2,359,000. Allspring Global Investments Holdings LLC bought a new stake in Karat Packaging in the 2nd quarter valued at $1,162,000. AQR Capital Management LLC raised its stake in shares of Karat Packaging by 37.8% in the 2nd quarter. AQR Capital Management LLC now owns 116,980 shares of the company’s stock valued at $3,460,000 after buying an additional 32,069 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Karat Packaging by 95.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,547 shares of the company’s stock worth $1,762,000 after acquiring an additional 30,137 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Karat Packaging by 11.7% during the 1st quarter. Acadian Asset Management LLC now owns 261,895 shares of the company’s stock valued at $7,489,000 after acquiring an additional 27,370 shares in the last quarter. 25.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Truist Financial lowered shares of Karat Packaging from a “buy” rating to a “hold” rating and dropped their price target for the stock from $34.00 to $28.00 in a research report on Friday, August 9th.

Karat Packaging Price Performance

Shares of KRT stock opened at $29.48 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.12 and a quick ratio of 1.62. The stock’s fifty day simple moving average is $26.76 and its 200 day simple moving average is $27.40. Karat Packaging Inc. has a one year low of $20.93 and a one year high of $31.21. The firm has a market cap of $590.31 million, a price-to-earnings ratio of 21.06 and a beta of 1.03.

Karat Packaging Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.43%. This is a boost from Karat Packaging’s previous quarterly dividend of $0.35. Karat Packaging’s dividend payout ratio (DPR) is 114.29%.

About Karat Packaging

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.