Bank of New York Mellon Corp lessened its stake in Kraton Corporation (NYSE:KRA) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 393,552 shares of the specialty chemicals company’s stock after selling 8,806 shares during the quarter. Bank of New York Mellon Corp owned about 1.26% of Kraton Corporation worth $13,554,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the stock. US Bancorp DE raised its stake in Kraton Corporation by 0.6% in the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock valued at $132,000 after purchasing an additional 21 shares in the last quarter. Alps Advisors Inc. raised its stake in Kraton Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,059 shares of the specialty chemicals company’s stock valued at $588,000 after purchasing an additional 44 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Kraton Corporation by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System raised its stake in Kraton Corporation by 0.6% in the second quarter. Arizona State Retirement System now owns 16,206 shares of the specialty chemicals company’s stock valued at $558,000 after purchasing an additional 100 shares in the last quarter. Finally, Quantitative Investment Management LLC raised its stake in Kraton Corporation by 0.5% in the first quarter. Quantitative Investment Management LLC now owns 42,600 shares of the specialty chemicals company’s stock valued at $1,317,000 after purchasing an additional 200 shares in the last quarter. 97.75% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.watchlistnews.com/bank-of-new-york-mellon-corp-has-13-55-million-position-in-kraton-corporation-kra/1581717.html.

In other news, SVP James Leo Simmons sold 4,252 shares of Kraton Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $36.81, for a total transaction of $156,516.12. Following the completion of the sale, the senior vice president now owns 25,695 shares in the company, valued at approximately $945,832.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.01% of the company’s stock.

Kraton Corporation (KRA) opened at 35.85 on Friday. Kraton Corporation has a 52 week low of $24.95 and a 52 week high of $37.50. The firm’s 50-day moving average price is $33.92 and its 200 day moving average price is $32.76. The firm has a market cap of $1.12 billion, a P/E ratio of 25.74 and a beta of 1.28.

Kraton Corporation (NYSE:KRA) last issued its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.24. The firm had revenue of $525.30 million during the quarter, compared to the consensus estimate of $506.58 million. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. The company’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Equities analysts forecast that Kraton Corporation will post $2.31 earnings per share for the current fiscal year.

A number of research firms recently commented on KRA. BidaskClub raised Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. UBS AG reaffirmed a “sell” rating and issued a $27.00 price target (up previously from $26.00) on shares of Kraton Corporation in a research note on Sunday, June 25th. Zacks Investment Research raised Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 price target for the company in a research note on Tuesday, August 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Kraton Corporation in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $34.50.

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.

Want to see what other hedge funds are holding KRA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraton Corporation (NYSE:KRA).

Institutional Ownership by Quarter for Kraton Corporation (NYSE:KRA)

Receive News & Ratings for Kraton Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraton Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.