Eagle Boston Investment Management Inc. lifted its stake in shares of Kraton (NYSE:KRA) by 4.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 272,137 shares of the specialty chemicals company’s stock after purchasing an additional 12,026 shares during the period. Kraton comprises about 1.3% of Eagle Boston Investment Management Inc.’s investment portfolio, making the stock its 20th biggest holding. Eagle Boston Investment Management Inc.’s holdings in Kraton were worth $12,983,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of KRA. Wells Fargo & Company MN raised its stake in Kraton by 20.2% during the third quarter. Wells Fargo & Company MN now owns 35,735 shares of the specialty chemicals company’s stock worth $1,445,000 after acquiring an additional 5,997 shares during the period. Acadian Asset Management LLC acquired a new stake in Kraton during the fourth quarter worth about $2,230,000. Fox Run Management L.L.C. acquired a new stake in Kraton during the fourth quarter worth about $241,000. James Investment Research Inc. acquired a new stake in Kraton during the fourth quarter worth about $2,656,000. Finally, Evermore Global Advisors LLC raised its stake in Kraton by 1.0% during the fourth quarter. Evermore Global Advisors LLC now owns 567,736 shares of the specialty chemicals company’s stock worth $27,348,000 after acquiring an additional 5,817 shares during the period. 95.41% of the stock is currently owned by institutional investors and hedge funds.
KRA has been the topic of several research reports. ValuEngine upgraded shares of Kraton from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. UBS reiterated a “sell” rating and set a $33.00 price objective (up previously from $30.00) on shares of Kraton in a research note on Wednesday, February 21st. TheStreet upgraded shares of Kraton from a “c” rating to a “b-” rating in a research note on Thursday, March 1st. Loop Capital set a $76.00 price objective on shares of Kraton and gave the stock a “buy” rating in a research note on Tuesday, March 20th. Finally, Zacks Investment Research lowered shares of Kraton from a “hold” rating to a “sell” rating in a research note on Wednesday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.25.
Kraton (NYSE:KRA) last announced its quarterly earnings results on Wednesday, April 25th. The specialty chemicals company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.01). Kraton had a net margin of 5.65% and a return on equity of 18.07%. The firm had revenue of $502.39 million during the quarter, compared to analyst estimates of $467.89 million. During the same quarter in the previous year, the business posted ($0.15) EPS. Kraton’s revenue for the quarter was up 9.7% compared to the same quarter last year. sell-side analysts predict that Kraton will post 3.66 EPS for the current year.
Kraton Company Profile
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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