Wedge Capital Management L L P NC lowered its position in shares of Kraton Corp (NYSE:KRA) by 18.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,661 shares of the specialty chemicals company’s stock after selling 1,746 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Kraton were worth $247,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of KRA. Bank of New York Mellon Corp lifted its stake in shares of Kraton by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 462,904 shares of the specialty chemicals company’s stock valued at $21,826,000 after purchasing an additional 3,371 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Kraton by 7.2% in the 3rd quarter. Legal & General Group Plc now owns 74,807 shares of the specialty chemicals company’s stock valued at $3,531,000 after purchasing an additional 5,037 shares during the last quarter. Morgan Stanley lifted its stake in shares of Kraton by 37.6% in the 3rd quarter. Morgan Stanley now owns 154,616 shares of the specialty chemicals company’s stock valued at $7,291,000 after purchasing an additional 42,213 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Kraton by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 3,281,113 shares of the specialty chemicals company’s stock valued at $154,705,000 after purchasing an additional 53,361 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Kraton in the 3rd quarter valued at approximately $640,000. 95.92% of the stock is owned by institutional investors.
A number of equities research analysts recently issued reports on KRA shares. Zacks Investment Research lowered Kraton from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. JPMorgan Chase & Co. started coverage on Kraton in a research note on Tuesday, February 19th. They set a “reduce” rating for the company. TheStreet lowered Kraton from a “b-” rating to a “c” rating in a research note on Thursday, April 25th. ValuEngine upgraded Kraton from a “strong sell” rating to a “sell” rating in a report on Thursday, April 4th. Finally, SunTrust Banks raised their price objective on Kraton to $39.00 and gave the stock a “hold” rating in a report on Friday, March 1st. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $42.60.
Shares of NYSE:KRA traded down $0.52 on Friday, reaching $28.57. The company had a trading volume of 804 shares, compared to its average volume of 242,325. Kraton Corp has a 52-week low of $19.13 and a 52-week high of $51.33. The company has a market capitalization of $932.61 million, a PE ratio of 9.12 and a beta of 2.06. The company has a current ratio of 1.83, a quick ratio of 0.78 and a debt-to-equity ratio of 1.85.
Kraton (NYSE:KRA) last announced its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.23. Kraton had a return on equity of 15.20% and a net margin of 2.93%. The firm had revenue of $456.40 million for the quarter, compared to the consensus estimate of $491.65 million. During the same period in the previous year, the business earned $0.58 EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. Research analysts predict that Kraton Corp will post 3.94 EPS for the current year.
In related news, SVP Jose Fernando Cherubini Haddad sold 6,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $33.10, for a total transaction of $198,600.00. Following the transaction, the senior vice president now directly owns 14,910 shares in the company, valued at approximately $493,521. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.32% of the stock is owned by insiders.
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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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