BlackRock Inc. Has $136.92 Million Stake in Kraton Corporation (KRA)
BlackRock Inc. grew its position in Kraton Corporation (NYSE:KRA) by 4.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,975,623 shares of the specialty chemicals company’s stock after acquiring an additional 164,103 shares during the period. BlackRock Inc. owned about 12.74% of Kraton Corporation worth $136,919,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in KRA. Russell Investments Group Ltd. bought a new position in shares of Kraton Corporation in the 1st quarter valued at about $710,000. US Bancorp DE grew its position in shares of Kraton Corporation by 99.0% in the 1st quarter. US Bancorp DE now owns 3,806 shares of the specialty chemicals company’s stock valued at $118,000 after acquiring an additional 1,893 shares during the period. Comerica Bank grew its position in shares of Kraton Corporation by 4.1% in the 1st quarter. Comerica Bank now owns 34,173 shares of the specialty chemicals company’s stock valued at $1,178,000 after acquiring an additional 1,361 shares during the period. Swiss National Bank grew its position in shares of Kraton Corporation by 2.6% in the 1st quarter. Swiss National Bank now owns 51,100 shares of the specialty chemicals company’s stock valued at $1,580,000 after acquiring an additional 1,300 shares during the period. Finally, Ameriprise Financial Inc. grew its position in shares of Kraton Corporation by 4.7% in the 1st quarter. Ameriprise Financial Inc. now owns 162,055 shares of the specialty chemicals company’s stock valued at $5,011,000 after acquiring an additional 7,324 shares during the period. 97.70% of the stock is owned by institutional investors.
A number of brokerages have recently commented on KRA. Loop Capital began coverage on shares of Kraton Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $65.00 price objective for the company. BidaskClub cut shares of Kraton Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Kraton Corporation from a “strong-buy” rating to a “hold” rating in a research note on Friday. UBS AG began coverage on shares of Kraton Corporation in a research note on Friday, September 29th. They set a “buy” rating and a $65.00 target price for the company. Finally, KeyCorp restated a “hold” rating on shares of Kraton Corporation in a research note on Friday, September 1st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $56.75.
In related news, SVP James Leo Simmons sold 4,252 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $36.81, for a total value of $156,516.12. Following the sale, the senior vice president now directly owns 25,695 shares of the company’s stock, valued at $945,832.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Holger R. Jung sold 21,202 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $39.64, for a total transaction of $840,447.28. Following the completion of the sale, the senior vice president now directly owns 48,819 shares in the company, valued at $1,935,185.16. The disclosure for this sale can be found here. Corporate insiders own 5.01% of the company’s stock.
Shares of Kraton Corporation (NYSE KRA) opened at 42.03 on Monday. Kraton Corporation has a 1-year low of $24.95 and a 1-year high of $42.26. The firm has a market cap of $1.31 billion, a PE ratio of 30.17 and a beta of 1.25. The stock’s 50 day moving average is $36.07 and its 200-day moving average is $34.14.
Kraton Corporation (NYSE:KRA) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.24. The business had revenue of $525.30 million for the quarter, compared to the consensus estimate of $506.58 million. Kraton Corporation had a net margin of 2.36% and a return on equity of 9.52%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Analysts expect that Kraton Corporation will post $2.23 earnings per share for the current year.
Kraton Corporation 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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