UBS Asset Management Americas Inc. Purchases New Stake in Kraton Corporation (KRA)
UBS Asset Management Americas Inc. purchased a new position in shares of Kraton Corporation (NYSE:KRA) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,399 shares of the specialty chemicals company’s stock, valued at approximately $220,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. US Bancorp DE lifted its position in Kraton Corporation by 0.6% during the 2nd quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after acquiring an additional 21 shares during the period. State of Alaska Department of Revenue lifted its position in Kraton Corporation by 80.4% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock worth $211,000 after acquiring an additional 2,742 shares during the period. Aperio Group LLC acquired a new stake in Kraton Corporation during the 2nd quarter worth about $226,000. Wedge Capital Management L L P NC acquired a new stake in Kraton Corporation during the 2nd quarter worth about $287,000. Finally, Municipal Employees Retirement System of Michigan lifted its position in Kraton Corporation by 7.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,830 shares of the specialty chemicals company’s stock worth $338,000 after acquiring an additional 690 shares during the period. 97.35% of the stock is owned by institutional investors.
In related news, SVP James Leo Simmons sold 6,950 shares of Kraton Corporation stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $47.39, for a total value of $329,360.50. Following the completion of the transaction, the senior vice president now owns 25,000 shares in the company, valued at approximately $1,184,750. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Holger R. Jung sold 21,202 shares of Kraton Corporation stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.64, for a total value of $840,447.28. Following the completion of the transaction, the senior vice president now owns 48,819 shares of the company’s stock, valued at approximately $1,935,185.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 201,963 shares of company stock valued at $9,615,742. 5.01% of the stock is owned by company insiders.
A number of research firms have weighed in on KRA. Zacks Investment Research upgraded Kraton Corporation from a “sell” rating to a “hold” rating and set a $56.00 price objective for the company in a research note on Saturday, October 28th. TheStreet lowered Kraton Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. ValuEngine upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. UBS AG lifted their price objective on Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a research note on Wednesday, October 25th. Finally, SunTrust Banks, Inc. reiterated a “buy” rating and set a $55.00 price objective (up previously from $45.00) on shares of Kraton Corporation in a research note on Wednesday, October 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Kraton Corporation has an average rating of “Hold” and an average price target of $51.50.
Kraton Corporation (NYSE:KRA) opened at $49.89 on Friday. The firm has a market capitalization of $1,561.36, a PE ratio of 20.20 and a beta of 1.21. Kraton Corporation has a 52 week low of $25.09 and a 52 week high of $50.14. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.19 and a current ratio of 2.27.
Kraton Corporation (NYSE:KRA) last released its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.57. The business had revenue of $510.90 million during the quarter, compared to analyst estimates of $481.77 million. Kraton Corporation had a return on equity of 14.19% and a net margin of 1.27%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. equities research analysts expect that Kraton Corporation will post 2.96 earnings per share for the current fiscal year.
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Kraton Corporation 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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