Lapides Asset Management LLC lowered its position in Kraton Corporation (NYSE:KRA) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,500 shares of the specialty chemicals company’s stock after selling 17,200 shares during the quarter. Kraton Corporation makes up about 2.1% of Lapides Asset Management LLC’s investment portfolio, making the stock its 16th largest holding. Lapides Asset Management LLC owned 0.82% of Kraton Corporation worth $10,373,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. US Bancorp DE lifted its stake in 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 acquiring an additional 21 shares during the last quarter. Alps Advisors Inc. raised its position in shares of Kraton Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 17,059 shares of the specialty chemicals company’s stock valued at $588,000 after purchasing an additional 44 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Kraton Corporation by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System raised its position in shares of Kraton Corporation by 0.6% in the second quarter. Arizona State Retirement System now owns 16,206 shares of the specialty chemicals company’s stock valued at $558,000 after purchasing an additional 100 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Kraton Corporation by 1.3% in the second quarter. The Manufacturers Life Insurance Company now owns 23,046 shares of the specialty chemicals company’s stock valued at $794,000 after purchasing an additional 286 shares during the period. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Kraton Corporation (NYSE KRA) traded down $0.33 during mid-day trading on Wednesday, reaching $48.38. 104,600 shares of the company’s stock traded hands, compared to its average volume of 323,215. The company has a current ratio of 2.27, a quick ratio of 1.19 and a debt-to-equity ratio of 2.85. Kraton Corporation has a 52-week low of $25.09 and a 52-week high of $51.23. The company has a market cap of $1,524.43, a price-to-earnings ratio of 19.72 and a beta of 1.21.
Kraton Corporation (NYSE:KRA) last released its earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating 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 firm had revenue of $510.90 million for the quarter, compared to analyst estimates of $481.77 million. During the same period last year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. equities research analysts forecast that Kraton Corporation will post 2.96 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Kraton Corporation from a “sell” rating to a “hold” rating and set a $56.00 price objective on the stock in a research report on Saturday, October 28th. TheStreet lowered shares of Kraton Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. ValuEngine raised shares of Kraton Corporation from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. UBS AG raised their target price on shares of Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a report on Wednesday, October 25th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of Kraton Corporation in a report 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 issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $51.50.
In other news, insider Stephen E. Tremblay sold 49,623 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.02, for a total value of $2,382,896.46. Following the sale, the insider now directly owns 83,930 shares in the company, valued at approximately $4,030,318.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Michael Fogarty sold 81,430 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $49.09, for a total transaction 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 $13,652,861.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 218,614 shares of company stock worth $10,434,139. 5.01% of the stock is currently owned by corporate insiders.
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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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