Winpak Ltd. (TSE:WPK – Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as C$50.47 and last traded at C$50.29, with a volume of 63607 shares trading hands. The stock had previously closed at C$50.12.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the stock. CIBC raised their price objective on shares of Winpak from C$53.00 to C$54.00 in a report on Monday, October 28th. BMO Capital Markets upped their target price on shares of Winpak from C$50.00 to C$52.00 in a research report on Friday, October 25th. National Bankshares set a C$55.00 target price on Winpak and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, National Bank Financial upgraded Winpak to a “strong-buy” rating in a report on Wednesday, September 25th.
Get Our Latest Stock Report on Winpak
Winpak Stock Up 0.8 %
Winpak Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, October 11th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. This is a boost from Winpak’s previous quarterly dividend of $0.03. The ex-dividend date was Tuesday, October 1st. Winpak’s dividend payout ratio is currently 6.58%.
About Winpak
Winpak Ltd. manufactures and distributes packaging materials and related packaging machines in the United States, Canada, and Mexico. The company operates is Flexible Packaging, Rigid Packaging and Flexible Lidding, and Packaging Machinery segments. The Flexible Packaging segment provides modified atmosphere packaging products for fresh and processed meats, poultry, cheese, medical device packaging, high-performance pouch, and high-barrier films for converting applications; specialty films, including barrier and non-barrier films converting applications, such as printing, laminating and bag making, as well as shrink bags; and biaxially oriented nylon films for food packaging and industrial applications.
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