Klabin S.A. (OTCMKTS:KLBAY – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.50 and traded as low as $6.85. Klabin shares last traded at $7.63, with a volume of 714 shares traded.
Analysts Set New Price Targets
Separately, The Goldman Sachs Group raised Klabin from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 30th.
Check Out Our Latest Report on KLBAY
Klabin Stock Performance
Klabin Cuts Dividend
The firm also recently announced a dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, December 23rd will be given a dividend of $0.0718 per share. The ex-dividend date of this dividend is Monday, December 23rd. Klabin’s payout ratio is presently 37.24%.
About Klabin
Klabin SA, together with its subsidiaries, produces and exports packaging paper and sustainable paper packaging solutions in Brazil and internationally. The company engages in the planting of pine and eucalyptus; and forestry management business. It also produces and sells hardwood (eucalyptus), softwood (pine), and fluffed pulp; and paperboard, sackraft, Kraftliner paper, and recycled paper.
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