Evermore Global Advisors LLC raised its position in Kraton Corporation (NYSE:KRA) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,919 shares of the specialty chemicals company’s stock after acquiring an additional 6,707 shares during the quarter. Kraton accounts for about 8.6% of Evermore Global Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Evermore Global Advisors LLC owned approximately 1.80% of Kraton worth $22,724,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its holdings in shares of Kraton by 2.1% during the first quarter. Teachers Advisors LLC now owns 55,461 shares of the specialty chemicals company’s stock valued at $1,715,000 after purchasing an additional 1,131 shares during the period. Vanguard Group Inc. increased its holdings in shares of Kraton by 5.5% during the first quarter. Vanguard Group Inc. now owns 2,835,197 shares of the specialty chemicals company’s stock valued at $87,664,000 after purchasing an additional 147,286 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kraton by 5.6% during the first quarter. Geode Capital Management LLC now owns 233,179 shares of the specialty chemicals company’s stock valued at $7,209,000 after purchasing an additional 12,411 shares during the period. BlackRock Inc. grew its holdings in Kraton by 48,153.2% during the first quarter. BlackRock Inc. now owns 3,811,520 shares of the specialty chemicals company’s stock worth $117,851,000 after acquiring an additional 3,803,621 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in Kraton by 8.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 217,681 shares of the specialty chemicals company’s stock worth $6,731,000 after acquiring an additional 17,625 shares during the period. 97.50% of the stock is owned by institutional investors and hedge funds.
In related 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 transaction of $840,447.28. Following the completion of the transaction, the senior vice president now directly owns 48,819 shares of the company’s stock, valued at $1,935,185.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly 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. Corporate insiders own 4.71% of the company’s stock.
A number of brokerages recently weighed in on KRA. SunTrust Banks reiterated a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Kraton in a report on Wednesday, October 11th. They noted that the move was a valuation call. UBS began coverage on Kraton in a report on Friday, September 29th. They set a “buy” rating and a $65.00 price target for the company. Loop Capital began coverage on Kraton in a report on Thursday, September 28th. They issued a “buy” rating and a $65.00 target price for the company. BidaskClub upgraded Kraton from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded Kraton from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $51.50.
Kraton Corporation (NYSE KRA) opened at $46.48 on Friday. 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 one year low of $25.09 and a one year high of $51.23. The stock has a market capitalization of $1,435.55, a price-to-earnings ratio of 18.57 and a beta of 1.19.
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. The business had revenue of $510.90 million during the quarter, compared to the consensus estimate of $481.77 million. Kraton 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 quarter in the prior year, the company posted $0.63 earnings per share. analysts forecast that Kraton Corporation will post 2.96 EPS for the current fiscal year.
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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