Proxima Capital Management LLC boosted its stake in Kraton Corporation (NYSE:KRA) by 7.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,700 shares of the specialty chemicals company’s stock after buying an additional 20,700 shares during the quarter. Kraton Corporation makes up about 5.4% of Proxima Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Proxima Capital Management LLC owned 0.93% of Kraton Corporation worth $10,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in KRA. US Bancorp DE boosted its stake in 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 buying an additional 1,893 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Kraton Corporation by 80.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock valued at $211,000 after buying an additional 2,742 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new stake in Kraton Corporation in the 2nd quarter valued at $220,000. Mason Street Advisors LLC boosted its stake in Kraton Corporation by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 7,229 shares of the specialty chemicals company’s stock valued at $224,000 after buying an additional 473 shares in the last quarter. Finally, Aperio Group LLC acquired a new stake in Kraton Corporation in the 2nd quarter valued at $226,000. 97.75% of the stock is currently owned by institutional investors and hedge funds.
In related news, SVP James Leo Simmons sold 4,252 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $36.81, for a total transaction of $156,516.12. Following the sale, the senior vice president now owns 25,695 shares of the company’s stock, valued at approximately $945,832.95. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Holger R. Jung sold 21,202 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $39.64, for a total value of $840,447.28. Following the sale, the senior vice president now directly owns 48,819 shares in the company, valued at approximately $1,935,185.16. The disclosure for this sale can be found here. Company insiders own 5.01% of the company’s stock.
Several brokerages recently commented on KRA. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $55.00 price target (up previously from $45.00) on shares of Kraton Corporation in a research note on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, August 1st. BidaskClub upgraded Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG assumed coverage on Kraton Corporation in a research report on Friday, September 29th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, Loop Capital assumed coverage on Kraton Corporation in a research report on Thursday, September 28th. They issued a “buy” rating and a $65.00 price objective for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Kraton Corporation has a consensus rating of “Buy” and an average price target of $56.75.
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Shares of Kraton Corporation (KRA) traded up 0.83% during trading on Friday, reaching $41.44. The company’s stock had a trading volume of 69,580 shares. Kraton Corporation has a 52-week low of $24.95 and a 52-week high of $42.26. The company has a market cap of $1.29 billion, a PE ratio of 29.75 and a beta of 1.26. The firm’s 50-day moving average is $35.78 and its 200 day moving average is $33.98.
Kraton Corporation (NYSE:KRA) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.24. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. The company had revenue of $525.30 million for the quarter, compared to the consensus estimate of $506.58 million. During the same quarter last year, the business posted $0.63 EPS. Kraton Corporation’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts predict that Kraton Corporation will post $2.23 EPS for the current fiscal year.
About Kraton Corporation
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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