Rhumbline Advisers decreased its holdings in Kraton Corporation (NYSE:KRA) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,103 shares of the specialty chemicals company’s stock after selling 190 shares during the period. Rhumbline Advisers owned about 0.20% of Kraton Corporation worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in KRA. State of Alaska Department of Revenue increased its stake in Kraton Corporation by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,410 shares of the specialty chemicals company’s stock worth $105,000 after purchasing an additional 70 shares during the period. US Bancorp DE increased its stake in Kraton Corporation by 99.0% in the first quarter. US Bancorp DE now owns 3,806 shares of the specialty chemicals company’s stock worth $118,000 after purchasing an additional 1,893 shares during the period. LS Investment Advisors LLC increased its stake in Kraton Corporation by 279.4% in the first quarter. LS Investment Advisors LLC now owns 4,128 shares of the specialty chemicals company’s stock worth $128,000 after purchasing an additional 3,040 shares during the period. Mason Street Advisors LLC increased its stake in Kraton Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,229 shares of the specialty chemicals company’s stock worth $224,000 after purchasing an additional 473 shares during the period. Finally, Aperio Group LLC purchased a new stake in Kraton Corporation in the second quarter worth $226,000. Institutional investors and hedge funds own 97.75% of the company’s stock.
In other news, SVP James Leo Simmons sold 4,252 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $36.81, for a total value of $156,516.12. Following the transaction, the senior vice president now owns 25,695 shares of the company’s stock, valued at approximately $945,832.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.01% of the company’s stock.
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KRA has been the topic of a number of recent analyst reports. UBS AG reiterated a “sell” rating and issued a $27.00 target price (up previously from $26.00) on shares of Kraton Corporation in a research note on Sunday, June 25th. BidaskClub upgraded Kraton Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered Kraton Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, KeyCorp reiterated a “hold” rating on shares of Kraton Corporation in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Kraton Corporation presently has a consensus rating of “Buy” and a consensus price target of $34.50.
Kraton Corporation (KRA) opened at 32.47 on Friday. The stock’s 50 day moving average price is $34.23 and its 200 day moving average price is $32.57. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 23.31 and a beta of 1.28. Kraton Corporation has a 52 week low of $24.95 and a 52 week high of $37.50.
Kraton Corporation (NYSE:KRA) last announced its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.24. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. The business had revenue of $525.30 million for the quarter, compared to analyst estimates of $506.58 million. During the same quarter in the prior year, the company posted $0.63 EPS. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, analysts forecast that Kraton Corporation will post $2.31 earnings per share for the current year.
Kraton Corporation Profile
Kraton Corporation, formerly Kraton Performance Polymers, Inc, is a specialty chemicals company. The Company manufactures styrenic block copolymers (SBCs) and other engineered polymers. The Company also produces specialty products primarily derived from pine wood pulping co-products. The Company operates through two segments: Polymer Segment, which comprises SBCs and other engineered polymers business, and Chemical Segment, which comprises pine-based specialty products business.
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