Kraton Corporation (KRA) Stake Raised by Evermore Global Advisors LLC
Evermore Global Advisors LLC boosted its stake in Kraton Corporation (NYSE:KRA) by 18.9% during the second quarter, Holdings Channel reports. The institutional investor owned 555,212 shares of the specialty chemicals company’s stock after buying an additional 88,332 shares during the period. Kraton Corporation accounts for about 8.6% of Evermore Global Advisors LLC’s portfolio, making the stock its 5th largest position. Evermore Global Advisors LLC’s holdings in Kraton Corporation were worth $19,122,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Kraton Corporation by 48,153.2% in the first quarter. BlackRock Inc. now owns 3,811,520 shares of the specialty chemicals company’s stock valued at $117,851,000 after buying an additional 3,803,621 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in Kraton Corporation by 1.3% in the first quarter. Frontier Capital Management Co. LLC now owns 3,089,868 shares of the specialty chemicals company’s stock valued at $95,539,000 after buying an additional 39,516 shares during the last quarter. Vanguard Group Inc. raised its position in Kraton Corporation by 5.5% in the first quarter. Vanguard Group Inc. now owns 2,835,197 shares of the specialty chemicals company’s stock valued at $87,664,000 after buying an additional 147,286 shares during the last quarter. Rothschild Asset Management Inc. raised its position in Kraton Corporation by 5.2% in the second quarter. Rothschild Asset Management Inc. now owns 954,446 shares of the specialty chemicals company’s stock valued at $32,871,000 after buying an additional 47,540 shares during the last quarter. Finally, FMR LLC raised its position in Kraton Corporation by 53.2% in the first quarter. FMR LLC now owns 954,380 shares of the specialty chemicals company’s stock valued at $29,509,000 after buying an additional 331,303 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Kraton Corporation (NYSE:KRA) opened at 34.16 on Wednesday. Kraton Corporation has a 52 week low of $24.95 and a 52 week high of $37.50. The company has a market cap of $1.07 billion, a PE ratio of 24.52 and a beta of 1.23. The stock’s 50 day moving average price is $34.93 and its 200-day moving average price is $31.73.
Kraton Corporation (NYSE:KRA) last announced its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.24. The company had revenue of $525.30 million for the quarter, compared to analysts’ expectations of $506.58 million. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. Kraton Corporation’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Analysts expect that Kraton Corporation will post $2.28 EPS for the current year.
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Several research firms have recently issued reports on KRA. UBS AG restated a “sell” rating and set a $27.00 target price (up from $26.00) on shares of Kraton Corporation in a research report on Sunday, June 25th. BidaskClub upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 target price for the company in a research report on Tuesday, August 1st. Finally, TheStreet upgraded Kraton Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, April 27th.
In other Kraton Corporation news, SVP James Leo Simmons sold 4,252 shares of the business’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 sale, the senior vice president now directly owns 25,695 shares in the company, valued at $945,832.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.01% of the stock is currently owned by insiders.
Kraton Corporation Company 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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