Hsbc Holdings PLC lowered its position in Kraton Corp (NYSE:KRA) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 123,994 shares of the specialty chemicals company’s stock after selling 7,328 shares during the quarter. Hsbc Holdings PLC owned about 0.39% of Kraton worth $5,845,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. grew its stake in Kraton by 4.5% in the third quarter. BlackRock Inc. now owns 4,553,471 shares of the specialty chemicals company’s stock worth $214,696,000 after purchasing an additional 195,090 shares during the period. Martingale Asset Management L P grew its stake in Kraton by 147.0% in the third quarter. Martingale Asset Management L P now owns 89,735 shares of the specialty chemicals company’s stock worth $4,232,000 after purchasing an additional 53,409 shares during the period. Bank of New York Mellon Corp grew its stake in Kraton by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 462,904 shares of the specialty chemicals company’s stock worth $21,826,000 after purchasing an additional 3,371 shares during the period. Eagle Boston Investment Management Inc. grew its stake in Kraton by 3.6% in the third quarter. Eagle Boston Investment Management Inc. now owns 294,236 shares of the specialty chemicals company’s stock worth $13,873,000 after purchasing an additional 10,093 shares during the period. Finally, Prudential Financial Inc. grew its stake in Kraton by 8.6% in the third quarter. Prudential Financial Inc. now owns 86,576 shares of the specialty chemicals company’s stock worth $4,082,000 after purchasing an additional 6,850 shares during the period. 96.11% of the stock is owned by institutional investors.
In other news, insider Stephen E. Tremblay sold 13,085 shares of the stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $49.50, for a total value of $647,707.50. Following the sale, the insider now directly owns 102,409 shares of the company’s stock, valued at $5,069,245.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Kevin Michael Fogarty sold 27,748 shares of the stock in a transaction on Friday, September 21st. The stock was sold at an average price of $50.00, for a total value of $1,387,400.00. Following the completion of the sale, the chief executive officer now directly owns 273,281 shares in the company, valued at $13,664,050. The disclosure for this sale can be found here. Corporate insiders own 4.71% of the company’s stock.
KRA has been the topic of several recent research reports. TheStreet cut Kraton from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. Loop Capital set a $76.00 price target on Kraton and gave the stock a “buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research cut Kraton from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. SunTrust Banks cut Kraton from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, ValuEngine cut Kraton from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $57.50.
NYSE KRA opened at $23.93 on Friday. Kraton Corp has a 12 month low of $23.48 and a 12 month high of $53.99. The firm has a market capitalization of $777.52 million, a PE ratio of 7.72 and a beta of 1.74. The company has a debt-to-equity ratio of 2.11, a quick ratio of 1.04 and a current ratio of 2.33.
Kraton (NYSE:KRA) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.02 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.19). Kraton had a return on equity of 14.83% and a net margin of 5.87%. The company had revenue of $523.11 million during the quarter, compared to analysts’ expectations of $528.00 million. As a group, equities analysts anticipate that Kraton Corp will post 3.16 earnings per share for the current year.
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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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