Aristotle Capital Boston LLC lifted its stake in Kraton Corp (NYSE:KRA) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,205 shares of the specialty chemicals company’s stock after acquiring an additional 23,834 shares during the quarter. Aristotle Capital Boston LLC’s holdings in Kraton were worth $14,720,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Kraton during the third quarter valued at approximately $218,000. Renaissance Technologies LLC grew its position in Kraton by 0.9% during the third quarter. Renaissance Technologies LLC now owns 1,001,700 shares of the specialty chemicals company’s stock valued at $47,230,000 after buying an additional 8,700 shares during the period. Royce & Associates LP grew its position in Kraton by 8.6% during the third quarter. Royce & Associates LP now owns 377,376 shares of the specialty chemicals company’s stock valued at $17,793,000 after buying an additional 30,000 shares during the period. BlackRock Inc. grew its position in Kraton by 4.5% during the third quarter. BlackRock Inc. now owns 4,553,471 shares of the specialty chemicals company’s stock valued at $214,696,000 after buying an additional 195,090 shares during the period. Finally, Martingale Asset Management L P grew its position in Kraton by 147.0% during the third quarter. Martingale Asset Management L P now owns 89,735 shares of the specialty chemicals company’s stock valued at $4,232,000 after buying an additional 53,409 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.
In other Kraton news, insider Stephen E. Tremblay sold 13,085 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $49.50, for a total value of $647,707.50. Following the completion of the transaction, the insider now directly owns 102,409 shares in the company, valued at $5,069,245.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kevin Michael Fogarty sold 27,748 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,387,400.00. Following the completion of the transaction, the chief executive officer now directly owns 273,281 shares in the company, valued at approximately $13,664,050. The disclosure for this sale can be found here. Corporate insiders own 4.71% of the company’s stock.
KRA opened at $24.33 on Friday. The company has a market capitalization of $779.43 million, a price-to-earnings ratio of 8.54 and a beta of 1.74. Kraton Corp has a 1-year low of $23.48 and a 1-year high of $53.99. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.33 and a quick ratio of 1.04.
Kraton (NYSE:KRA) last posted its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by ($0.19). The firm had revenue of $523.11 million during the quarter, compared to the consensus estimate of $528.00 million. Kraton had a return on equity of 14.83% and a net margin of 5.87%. Equities research analysts anticipate that Kraton Corp will post 3.16 earnings per share for the current fiscal year.
Several brokerages recently issued reports on KRA. ValuEngine lowered shares of Kraton from a “sell” rating to a “strong sell” rating in a research report on Friday, October 26th. SunTrust Banks lowered shares of Kraton from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Zacks Investment Research lowered shares of Kraton from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Loop Capital set a $76.00 target price on shares of Kraton and gave the company a “buy” rating in a research report on Wednesday, August 15th. Finally, TheStreet lowered shares of Kraton from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $57.50.
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Kraton Company Profile
Kraton Corporation manufactures and sells styrenic block copolymers and other engineered polymers in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, Polymer and Chemical. The Polymer segment offers performance products, including styrene-butadiene-styrene and styrene-isoprene-styrene; and specialty polymers, such as hydrogenated styrenic block copolymers, as well as isoprene rubber and isoprene rubber latex for use in medical and personal care products, adhesives, tackifiers, paints, and coatings.
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