Vanguard Group Inc. raised its stake in shares of Kraton Corporation (NYSE:KRA) by 2.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,901,209 shares of the specialty chemicals company’s stock after acquiring an additional 66,012 shares during the quarter. Vanguard Group Inc. owned approximately 9.30% of Kraton Corporation worth $99,918,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its holdings in Kraton Corporation by 0.6% during the 2nd quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 21 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Kraton Corporation by 80.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock valued at $211,000 after purchasing an additional 2,742 shares during the period. UBS Asset Management Americas Inc. acquired a new position in Kraton Corporation during the 2nd quarter worth approximately $220,000. Aperio Group LLC acquired a new position in Kraton Corporation during the 2nd quarter worth approximately $226,000. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Kraton Corporation during the 2nd quarter worth approximately $287,000. 95.49% of the stock is owned by institutional investors.
Shares of Kraton Corporation (NYSE:KRA) traded down $0.26 on Friday, hitting $48.44. The company’s stock had a trading volume of 364,500 shares, compared to its average volume of 324,939. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.19 and a current ratio of 2.27. Kraton Corporation has a 52-week low of $25.09 and a 52-week high of $51.23. The company has a market capitalization of $1,524.12, a price-to-earnings ratio of 19.72 and a beta of 1.21.
Kraton Corporation (NYSE:KRA) last posted its earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.57. The business had revenue of $510.90 million during the quarter, compared to analysts’ expectations of $481.77 million. Kraton Corporation had a return on equity of 14.19% and a net margin of 1.27%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. equities analysts forecast that Kraton Corporation will post 2.96 EPS for the current year.
In other news, SVP Holger R. Jung sold 21,202 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.64, for a total value of $840,447.28. Following the completion of the transaction, the senior vice president now owns 48,819 shares of the company’s stock, valued at approximately $1,935,185.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Michael Fogarty sold 81,430 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $49.09, for a total value of $3,997,398.70. Following the completion of the sale, the chief executive officer now owns 278,119 shares in the company, valued at approximately $13,652,861.71. The disclosure for this sale can be found here. Insiders have sold a total of 218,614 shares of company stock valued at $10,434,139 over the last 90 days. 5.01% of the stock is currently owned by company insiders.
A number of research analysts have commented on KRA shares. ValuEngine raised Kraton Corporation from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Tuesday, August 1st. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $55.00 price objective (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. BidaskClub upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, KeyCorp restated a “hold” rating on shares of Kraton Corporation in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Kraton Corporation currently has an average rating of “Hold” and an average target price of $51.50.
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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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