Paloma Partners Management Co Has $902,000 Position in Kraton Corporation (NYSE:KRA)
Paloma Partners Management Co cut its stake in Kraton Corporation (NYSE:KRA) by 42.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 29,182 shares of the specialty chemicals company’s stock after selling 21,689 shares during the period. Paloma Partners Management Co owned approximately 0.09% of Kraton Corporation worth $902,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in KRA. Comerica Bank increased its position in shares of Kraton Corporation by 5.5% in the fourth quarter. Comerica Bank now owns 32,812 shares of the specialty chemicals company’s stock worth $928,000 after buying an additional 1,721 shares during the last quarter. State Street Corp increased its position in shares of Kraton Corporation by 10.2% in the fourth quarter. State Street Corp now owns 650,001 shares of the specialty chemicals company’s stock worth $18,512,000 after buying an additional 60,145 shares during the last quarter. FMR LLC purchased a new position in Kraton Corporation during the fourth quarter worth $17,745,000. Allianz Asset Management AG boosted its stake in shares of Kraton Corporation by 11.1% in the fourth quarter. Allianz Asset Management AG now owns 49,581 shares of the specialty chemicals company’s stock worth $1,413,000 after buying an additional 4,969 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Kraton Corporation by 54.7% in the fourth quarter. Renaissance Technologies LLC now owns 111,509 shares of the specialty chemicals company’s stock valued at $3,176,000 after buying an additional 39,409 shares in the last quarter. 97.54% of the stock is currently owned by hedge funds and other institutional investors.
Kraton Corporation (NYSE KRA) traded up 1.02% during midday trading on Friday, hitting $36.72. 162,759 shares of the stock were exchanged. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 26.36 and a beta of 1.23. The firm’s 50-day moving average is $33.91 and its 200 day moving average is $31.18. Kraton Corporation has a 52 week low of $24.95 and a 52 week high of $37.50.
Kraton Corporation (NYSE:KRA) last released its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.58 by $0.24. The business had revenue of $525.30 million during the quarter, compared to analyst estimates of $506.58 million. Kraton Corporation had a net margin of 2.36% and a return on equity of 9.52%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 earnings per share. Equities research analysts expect that Kraton Corporation will post $2.28 EPS for the current fiscal year.
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Several research firms have recently issued reports on KRA. TheStreet raised Kraton Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, April 27th. BidaskClub cut Kraton Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered Kraton Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, UBS AG reaffirmed a “sell” rating and set a $26.00 price objective (up previously from $24.00) on shares of Kraton Corporation in a report on Friday, April 28th.
In other Kraton Corporation news, SVP James Leo Simmons sold 4,252 shares of the stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $36.81, for a total value of $156,516.12. Following the completion of the sale, the senior vice president now owns 25,695 shares in the company, valued at approximately $945,832.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.01% of the stock is owned by corporate insiders.
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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