Contrarian Capital Management L.L.C. cut its position in shares of Kraton Corporation (NYSE:KRA) by 28.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,272 shares of the specialty chemicals company’s stock after selling 59,224 shares during the quarter. Kraton comprises about 0.7% of Contrarian Capital Management L.L.C.’s holdings, making the stock its 13th largest position. Contrarian Capital Management L.L.C. owned 0.47% of Kraton worth $5,915,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in Kraton by 0.6% during the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after acquiring an additional 21 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Kraton in the third quarter valued at $169,000. LS Investment Advisors LLC lifted its stake in shares of Kraton by 31.4% in the third quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock valued at $217,000 after buying an additional 1,282 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Kraton in the second quarter valued at $220,000. Finally, 361 Capital LLC bought a new position in shares of Kraton in the third quarter valued at $223,000. Institutional investors own 97.50% of the company’s stock.
In other news, SVP James Leo Simmons sold 6,950 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.39, for a total value of $329,360.50. Following the completion of the transaction, the senior vice president now directly owns 25,000 shares in the company, valued at $1,184,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barry J. Goldstein sold 16,651 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $49.15, for a total transaction of $818,396.65. Following the completion of the transaction, the director now owns 42,323 shares of the company’s stock, valued at $2,080,175.45. The disclosure for this sale can be found here. Insiders sold 218,614 shares of company stock valued at $10,434,139 over the last 90 days. 4.71% of the stock is owned by company insiders.
A number of research analysts have weighed in on KRA shares. SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 price objective (up from $45.00) on shares of Kraton in a research note on Wednesday, October 11th. They noted that the move was a valuation call. UBS initiated coverage on shares of Kraton in a research report on Friday, September 29th. They set a “buy” rating and a $65.00 price target on the stock. Loop Capital initiated coverage on shares of Kraton in a research report on Thursday, September 28th. They set a “buy” rating and a $65.00 price target on the stock. BidaskClub raised shares of Kraton from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Kraton from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $51.50.
Kraton Corporation (NYSE:KRA) traded up $0.91 on Friday, hitting $46.48. 271,700 shares of the stock traded hands, compared to its average volume of 317,861. The stock has a market capitalization of $1,450.00, a P/E ratio of 18.45 and a beta of 1.18. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.27 and a quick ratio of 1.19. Kraton Corporation has a 52-week low of $25.09 and a 52-week high of $51.23.
Kraton (NYSE:KRA) last released its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.57. Kraton had a net margin of 1.27% and a return on equity of 14.19%. The company had revenue of $510.90 million during the quarter, compared to analyst estimates of $481.77 million. During the same period last year, the business earned $0.63 earnings per share. Kraton’s revenue was up 12.5% compared to the same quarter last year. research analysts expect that Kraton Corporation will post 2.96 earnings per share for the current year.
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Kraton 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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