State Street Corp Increases Stake in Kraton Corporation (KRA)
State Street Corp grew its holdings in Kraton Corporation (NYSE:KRA) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 740,585 shares of the specialty chemicals company’s stock after buying an additional 40,284 shares during the period. State Street Corp owned 2.37% of Kraton Corporation worth $25,506,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in KRA. US Bancorp DE raised its holdings in shares of 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 buying an additional 21 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Kraton Corporation by 80.4% in the second quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock valued at $211,000 after buying an additional 2,742 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Kraton Corporation in the second quarter valued at about $220,000. Aperio Group LLC acquired a new position in shares of Kraton Corporation during the second quarter worth about $226,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Kraton Corporation during the second quarter worth about $287,000. 95.44% of the stock is owned by institutional investors and hedge funds.
In other Kraton Corporation news, SVP Holger R. Jung sold 21,202 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.64, for a total transaction of $840,447.28. Following the transaction, the senior vice president now directly owns 48,819 shares in the company, valued at $1,935,185.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Michael Fogarty sold 81,430 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $49.09, for a total transaction of $3,997,398.70. Following the transaction, the chief executive officer now owns 278,119 shares in the company, valued at $13,652,861.71. The disclosure for this sale can be found here. Insiders have sold 218,614 shares of company stock worth $10,434,139 over the last 90 days. 5.01% of the stock is currently owned by company insiders.
Kraton Corporation (NYSE KRA) opened at $48.71 on Tuesday. Kraton Corporation has a one year low of $25.09 and a one year high of $51.23. The company has a current ratio of 2.27, a quick ratio of 1.19 and a debt-to-equity ratio of 2.85. The stock has a market cap of $1,515.98, a PE ratio of 19.61 and a beta of 1.21.
Kraton Corporation (NYSE:KRA) last issued its earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.57. Kraton Corporation had a net margin of 1.27% and a return on equity of 14.19%. The company had revenue of $510.90 million for the quarter, compared to analyst estimates of $481.77 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. research analysts predict that Kraton Corporation will post 2.96 EPS for the current year.
A number of brokerages have recently issued reports on KRA. Zacks Investment Research upgraded shares of Kraton Corporation from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a research note on Saturday, October 28th. TheStreet lowered shares of Kraton Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. UBS AG boosted their price target on shares of Kraton Corporation from $28.00 to $30.00 and gave the stock a “sell” rating in a research note on Wednesday, October 25th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Kraton Corporation in a research note on Wednesday, October 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $51.50.
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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