Melbourne F. Yull Sells 20,000 Shares of Intertape Polymer Group (ITP) Stock

Intertape Polymer Group (TSE:ITP) Director Melbourne F. Yull sold 20,000 shares of the firm’s stock in a transaction on Monday, March 26th. The shares were sold at an average price of C$20.44, for a total transaction of C$408,800.00.

Intertape Polymer Group (ITP) traded up C$0.17 on Monday, hitting C$20.52. 302,713 shares of the company were exchanged, compared to its average volume of 183,242. Intertape Polymer Group has a one year low of C$17.49 and a one year high of C$25.41. The company has a market capitalization of $1,270.00, a price-to-earnings ratio of 12.75 and a beta of 0.76.

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Intertape Polymer Group (TSE:ITP) last released its quarterly earnings results on Thursday, March 8th. The company reported C$0.25 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.30 by C($0.05). Intertape Polymer Group had a net margin of 7.92% and a return on equity of 32.31%. The firm had revenue of C$301.52 million for the quarter, compared to the consensus estimate of C$301.80 million.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, March 19th. Intertape Polymer Group’s payout ratio is currently 34.78%.

Separately, Royal Bank of Canada raised their price objective on shares of Intertape Polymer Group from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research note on Friday, March 9th.

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Intertape Polymer Group Company Profile

Intertape Polymer Group Inc operates in the specialty packaging industry. The Company develops, manufactures and sells a range of paper and film-based pressure sensitive and water activated tapes, polyethylene and specialized polyolefin packaging films, woven coated fabrics and complementary packaging systems for industrial and retail use.

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