Prudential Financial Inc. cut its stake in Kraton Corp (NYSE:KRA) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,462 shares of the specialty chemicals company’s stock after selling 16,915 shares during the period. Prudential Financial Inc. owned approximately 0.81% of Kraton worth $8,000,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its holdings in shares of Kraton by 42.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,360 shares of the specialty chemicals company’s stock worth $104,000 after acquiring an additional 1,000 shares during the period. NumerixS Investment Technologies Inc raised its position in Kraton by 56.5% during the first quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the specialty chemicals company’s stock valued at $114,000 after purchasing an additional 1,300 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Kraton by 75.7% during the second quarter. Acadian Asset Management LLC now owns 5,047 shares of the specialty chemicals company’s stock worth $157,000 after purchasing an additional 2,175 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Kraton during the first quarter worth $209,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Kraton by 569.8% during the first quarter. BNP Paribas Arbitrage SA now owns 7,194 shares of the specialty chemicals company’s stock worth $232,000 after purchasing an additional 6,120 shares during the last quarter. 95.76% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on KRA shares. SunTrust Banks set a $33.00 price target on Kraton and gave the company a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research downgraded Kraton from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.67.
Shares of KRA traded up $0.68 during mid-day trading on Wednesday, reaching $33.26. The company had a trading volume of 4,116 shares, compared to its average volume of 149,430. The company’s 50 day simple moving average is $28.44 and its 200 day simple moving average is $30.47. Kraton Corp has a 1-year low of $19.13 and a 1-year high of $50.20. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.82 and a current ratio of 1.89. The company has a market capitalization of $971.17 million, a price-to-earnings ratio of 10.35 and a beta of 2.38.
Kraton (NYSE:KRA) last announced its quarterly earnings results on Wednesday, July 24th. The specialty chemicals company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.49. The company had revenue of $495.28 million for the quarter, compared to analyst estimates of $539.35 million. Kraton had a net margin of 5.92% and a return on equity of 17.62%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. As a group, equities analysts forecast that Kraton Corp will post 4.26 earnings per share for the current fiscal year.
In other Kraton news, SVP Holger R. Jung sold 6,640 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $31.04, for a total value of $206,105.60. Following the completion of the transaction, the senior vice president now directly owns 43,738 shares in the company, valued at $1,357,627.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Holger R. Jung sold 13,102 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $30.75, for a total value of $402,886.50. Following the completion of the transaction, the senior vice president now owns 43,738 shares of the company’s stock, valued at $1,344,943.50. The disclosure for this sale can be found here. Company insiders own 3.32% of the company’s stock.
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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