Cornerstone Capital Management Holdings LLC. bought a new position in Kraton Corp (NYSE:KRA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,300 shares of the specialty chemicals company’s stock, valued at approximately $351,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in Kraton by 46.6% in the third quarter. BNP Paribas Arbitrage SA now owns 16,569 shares of the specialty chemicals company’s stock valued at $670,000 after acquiring an additional 5,268 shares during the period. Rhumbline Advisers raised its stake in shares of Kraton by 2.1% in the third quarter. Rhumbline Advisers now owns 62,363 shares of the specialty chemicals company’s stock worth $2,522,000 after buying an additional 1,260 shares during the period. SG Americas Securities LLC bought a new position in shares of Kraton in the third quarter worth about $169,000. Ameriprise Financial Inc. raised its stake in shares of Kraton by 0.4% in the third quarter. Ameriprise Financial Inc. now owns 345,356 shares of the specialty chemicals company’s stock worth $13,966,000 after buying an additional 1,486 shares during the period. Finally, American International Group Inc. raised its stake in shares of Kraton by 5.7% in the third quarter. American International Group Inc. now owns 23,886 shares of the specialty chemicals company’s stock worth $966,000 after buying an additional 1,283 shares during the period. 95.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:KRA opened at $52.76 on Friday. The company has a current ratio of 2.08, a quick ratio of 0.96 and a debt-to-equity ratio of 2.36. The stock has a market cap of $1,647.45, a P/E ratio of 18.51 and a beta of 1.18. Kraton Corp has a 1 year low of $30.70 and a 1 year high of $53.99.
Kraton (NYSE:KRA) last posted its quarterly earnings results on Tuesday, February 20th. The specialty chemicals company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.03. Kraton had a return on equity of 15.47% and a net margin of 4.98%. The business had revenue of $465.97 million for the quarter, compared to the consensus estimate of $437.75 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts expect that Kraton Corp will post 3.74 EPS for the current fiscal year.
KRA has been the topic of several recent analyst reports. Zacks Investment Research downgraded Kraton from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 26th. ValuEngine upgraded Kraton from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. UBS reiterated a “sell” rating and issued a $33.00 target price (up previously from $30.00) on shares of Kraton in a report on Wednesday, February 21st. TheStreet upgraded Kraton from a “c” rating to a “b-” rating in a report on Thursday, March 1st. Finally, Loop Capital set a $76.00 price objective on Kraton and gave the company a “buy” rating in a report on Tuesday, March 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.00.
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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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