Frontier Capital Management Co. LLC reduced its stake in shares of Kraton Corporation (NYSE:KRA) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,966,434 shares of the specialty chemicals company’s stock after selling 124,329 shares during the quarter. Kraton Corporation accounts for approximately 0.9% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 25th largest holding. Frontier Capital Management Co. LLC owned 9.48% of Kraton Corporation worth $119,963,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Foundry Partners LLC grew its position in Kraton Corporation by 37.0% during the third quarter. Foundry Partners LLC now owns 230,186 shares of the specialty chemicals company’s stock worth $9,309,000 after buying an additional 62,115 shares during the period. Nine Chapters Capital Management LLC acquired a new position in Kraton Corporation during the third quarter worth about $243,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Kraton Corporation in the third quarter valued at about $514,000. Strs Ohio lifted its holdings in shares of Kraton Corporation by 51.5% in the third quarter. Strs Ohio now owns 25,900 shares of the specialty chemicals company’s stock valued at $1,047,000 after purchasing an additional 8,800 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its holdings in shares of Kraton Corporation by 31.4% in the third quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock valued at $217,000 after purchasing an additional 1,282 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.
In other news, SVP James Leo Simmons sold 6,950 shares of Kraton Corporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $47.39, for a total value of $329,360.50. Following the transaction, the senior vice president now directly owns 25,000 shares of the company’s stock, valued at $1,184,750. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Michael Fogarty sold 81,430 shares of Kraton Corporation 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 directly owns 278,119 shares in the company, valued at $13,652,861.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 201,963 shares of company stock worth $9,615,742. 5.01% of the stock is currently owned by insiders.
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Kraton Corporation (NYSE:KRA) last announced its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.57. The company had revenue of $510.90 million for the quarter, compared to analysts’ expectations of $481.77 million. Kraton Corporation had a net margin of 1.27% and a return on equity of 14.19%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.
Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Kraton Corporation from a “sell” rating to a “hold” rating and set a $56.00 price target on the stock in a report on Saturday, October 28th. TheStreet downgraded shares of Kraton Corporation from a “b-” rating to a “c” rating in a report on Wednesday, October 25th. ValuEngine raised shares of Kraton Corporation from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. UBS AG upped their price target on shares of Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a report on Wednesday, October 25th. Finally, 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 report 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 issued a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $51.50.
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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