Klabin S.A. (OTCMKTS:KLBAY – Get Free Report) shares passed 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 changing hands.
Wall Street Analyst Weigh In
Separately, The Goldman Sachs Group raised shares of Klabin from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 30th.
Read Our Latest Report on Klabin
Klabin Stock Down 9.0 %
Klabin Cuts Dividend
The company also recently disclosed a dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, December 23rd will be paid a dividend of $0.0718 per share. The ex-dividend date of this dividend is Monday, December 23rd. Klabin’s dividend 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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