Kraton Corporation (KRA) Position Cut by LS Investment Advisors LLC
LS Investment Advisors LLC cut its stake in shares of Kraton Corporation (NYSE:KRA) by 1.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,087 shares of the specialty chemicals company’s stock after selling 41 shares during the period. LS Investment Advisors LLC’s holdings in Kraton Corporation were worth $141,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of KRA. Renaissance Technologies LLC raised its position in Kraton Corporation by 54.7% in the fourth quarter. Renaissance Technologies LLC now owns 111,509 shares of the specialty chemicals company’s stock valued at $3,176,000 after buying an additional 39,409 shares during the period. Norges Bank acquired a new position in Kraton Corporation during the fourth quarter valued at approximately $7,289,000. Highbridge Capital Management LLC acquired a new position in Kraton Corporation during the fourth quarter valued at approximately $302,000. Skylands Capital LLC raised its position in Kraton Corporation by 32.1% in the first quarter. Skylands Capital LLC now owns 199,800 shares of the specialty chemicals company’s stock valued at $6,178,000 after buying an additional 48,500 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Kraton Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 12,600 shares of the specialty chemicals company’s stock valued at $390,000 after buying an additional 200 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Kraton Corporation (NYSE:KRA) traded down 2.90% during trading on Thursday, reaching $34.15. The company had a trading volume of 116,044 shares. The company has a market capitalization of $1.07 billion, a PE ratio of 24.52 and a beta of 1.23. Kraton Corporation has a 52-week low of $24.95 and a 52-week high of $37.50. The stock has a 50 day moving average price of $34.69 and a 200-day moving average price of $31.51.
Kraton Corporation (NYSE:KRA) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.24. Kraton Corporation had a net margin of 2.36% and a return on equity of 9.52%. The business had revenue of $525.30 million during the quarter, compared to the consensus estimate of $506.58 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. On average, equities research analysts anticipate that Kraton Corporation will post $2.28 earnings per share for the current fiscal year.
KRA has been the topic of several recent analyst reports. UBS AG reissued a “sell” rating and issued a $26.00 target price (up previously from $24.00) on shares of Kraton Corporation in a report on Friday, April 28th. TheStreet raised Kraton Corporation from a “c+” rating to a “b-” rating in a report on Thursday, April 27th. Zacks Investment Research raised Kraton Corporation from a “strong sell” rating to a “hold” rating and set a $39.00 target price on the stock in a report on Wednesday, May 3rd. Finally, BidaskClub raised Kraton Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th.
In other Kraton Corporation news, SVP James Leo Simmons sold 4,252 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $36.81, for a total value of $156,516.12. Following the completion of the transaction, the senior vice president now owns 25,695 shares in the company, valued at approximately $945,832.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.01% of the stock is currently owned by corporate insiders.
About Kraton Corporation
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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