State of Alaska Department of Revenue lifted its position in Kraton Co. (NYSE:KRA) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,811 shares of the specialty chemicals company’s stock after acquiring an additional 510 shares during the period. State of Alaska Department of Revenue’s holdings in Kraton were worth $531,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of Kraton by 83.3% in the second quarter. PNC Financial Services Group Inc. now owns 2,942 shares of the specialty chemicals company’s stock worth $52,000 after acquiring an additional 1,337 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Kraton by 16.0% during the first quarter. BNP Paribas Arbitrage SA now owns 13,228 shares of the specialty chemicals company’s stock valued at $107,000 after purchasing an additional 1,825 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kraton by 0.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 420,015 shares of the specialty chemicals company’s stock valued at $7,258,000 after purchasing an additional 1,916 shares in the last quarter. New York State Teachers Retirement System grew its position in Kraton by 4.6% during the second quarter. New York State Teachers Retirement System now owns 55,696 shares of the specialty chemicals company’s stock valued at $962,000 after purchasing an additional 2,448 shares in the last quarter. Finally, Comerica Bank grew its position in Kraton by 8.7% during the second quarter. Comerica Bank now owns 33,382 shares of the specialty chemicals company’s stock valued at $604,000 after purchasing an additional 2,665 shares in the last quarter. 93.47% of the stock is currently owned by institutional investors and hedge funds.
NYSE KRA opened at $29.50 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.84 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $939.96 million, a PE ratio of 4.81 and a beta of 2.87. The company has a 50 day moving average price of $18.33 and a two-hundred day moving average price of $15.28. Kraton Co. has a 12-month low of $4.45 and a 12-month high of $30.04.
Kraton (NYSE:KRA) last posted its earnings results on Wednesday, July 29th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.22. Kraton had a net margin of 12.08% and a return on equity of 3.64%. The firm had revenue of $355.68 million during the quarter, compared to analysts’ expectations of $370.70 million. As a group, equities analysts anticipate that Kraton Co. will post 0.28 EPS for the current year.
KRA has been the topic of a number of research analyst reports. Truist boosted their price objective on shares of Kraton from $20.00 to $25.00 in a research report on Tuesday, October 6th. Zacks Investment Research downgraded shares of Kraton from a “buy” rating to a “hold” rating in a research report on Wednesday, September 30th. ValuEngine raised shares of Kraton from a “hold” rating to a “buy” rating in a research report on Tuesday, September 15th. Finally, Loop Capital lifted their target price on shares of Kraton from $29.00 to $45.00 in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.33.
Kraton Corporation manufactures and sells styrenic block copolymers, specialty polymers, and other products 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 for paving and roofing application; styrene-isoprene-styrene for personal care application; ethylene-vinyl acetate, polyolefins, and metallocene polyolefins for adhesives application; 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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