Kraton Corporation (KRA) CEO Kevin Michael Fogarty Sells 81,430 Shares
Kraton Corporation (NYSE:KRA) CEO Kevin Michael Fogarty sold 81,430 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $49.09, for a total transaction of $3,997,398.70. Following the completion of the transaction, the chief executive officer now owns 278,119 shares in the company, valued at $13,652,861.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Kraton Corporation (NYSE:KRA) last announced its earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.57. The company had revenue of $510.90 million during the quarter, compared to analyst estimates of $481.77 million. Kraton Corporation had a net margin of 1.27% and a return on equity of 14.19%. Kraton Corporation’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share.
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Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Kraton Corporation from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a research report on Saturday, October 28th. TheStreet downgraded shares of Kraton Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. ValuEngine upgraded shares of Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. UBS AG raised their price objective on shares of Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a research report on Wednesday, October 25th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $55.00 price objective (up from $45.00) on shares of Kraton Corporation in a research report on Wednesday, October 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Kraton Corporation has a consensus rating of “Hold” and a consensus target price of $51.50.
Hedge funds have recently made changes to their positions in the business. US Bancorp DE boosted its stake in Kraton Corporation by 0.6% during the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after buying an additional 21 shares during the period. LS Investment Advisors LLC boosted its stake in Kraton Corporation by 31.4% during the third quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock worth $217,000 after buying an additional 1,282 shares during the period. Nine Chapters Capital Management LLC purchased a new position in Kraton Corporation during the third quarter worth about $243,000. State of Alaska Department of Revenue boosted its stake in Kraton Corporation by 80.4% during the second quarter. State of Alaska Department of Revenue now owns 6,152 shares of the specialty chemicals company’s stock worth $211,000 after buying an additional 2,742 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new position in Kraton Corporation during the second quarter worth about $220,000. 97.35% of the stock is owned by institutional investors.
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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