Schwab Charles Investment Management Inc. grew its stake in Kraton Corp (NYSE:KRA) by 7.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,181 shares of the specialty chemicals company’s stock after buying an additional 15,743 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.74% of Kraton worth $9,430,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Arizona State Retirement System raised its holdings in Kraton by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 16,206 shares of the specialty chemicals company’s stock valued at $558,000 after buying an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Kraton by 1.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,046 shares of the specialty chemicals company’s stock valued at $794,000 after buying an additional 286 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Kraton by 2.7% in the 2nd quarter. Wells Fargo & Company MN now owns 29,738 shares of the specialty chemicals company’s stock worth $1,024,000 after purchasing an additional 768 shares in the last quarter. Voya Investment Management LLC raised its holdings in Kraton by 9.0% in the 2nd quarter. Voya Investment Management LLC now owns 14,439 shares of the specialty chemicals company’s stock worth $497,000 after purchasing an additional 1,197 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Kraton by 2.1% in the 3rd quarter. Rhumbline Advisers now owns 62,363 shares of the specialty chemicals company’s stock worth $2,522,000 after purchasing an additional 1,260 shares in the last quarter. 97.46% of the stock is owned by institutional investors.
In other news, Director Barry J. Goldstein sold 16,651 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $49.15, for a total value of $818,396.65. Following the transaction, the director now owns 42,323 shares in the company, valued at approximately $2,080,175.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen E. Tremblay sold 49,623 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.02, for a total transaction of $2,382,896.46. Following the completion of the transaction, the insider now owns 83,930 shares in the company, valued at approximately $4,030,318.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,454 shares of company stock worth $9,645,791. Insiders own 4.71% of the company’s stock.
Shares of Kraton Corp (NYSE KRA) opened at $51.59 on Tuesday. Kraton Corp has a 1 year low of $25.09 and a 1 year high of $53.39. The company has a market cap of $1,610.00, a PE ratio of 67.00 and a beta of 1.19. 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 (NYSE:KRA) last announced its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.57. The company had revenue of $510.90 million for the quarter, compared to the consensus estimate of $481.77 million. Kraton had a net margin of 1.27% and a return on equity of 14.19%. Kraton’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. equities analysts predict that Kraton Corp will post 2.96 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Kraton from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. TheStreet lowered shares of Kraton from a “b-” rating to a “c” rating in a report on Wednesday, October 25th. ValuEngine raised shares of Kraton from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. UBS Group upped their target price on shares of Kraton from $28.00 to $30.00 and gave the stock a “sell” rating in a research report on Wednesday, October 25th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $55.00 target price (up from $45.00) on shares of Kraton in a research 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 issued a buy rating to the stock. Kraton presently has an average rating of “Hold” and a consensus target price of $51.50.
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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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