BNP Paribas Arbitrage SA Has $389,000 Position in Kraton Corporation (KRA)
BNP Paribas Arbitrage SA increased its stake in Kraton Corporation (NYSE:KRA) by 49.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,301 shares of the specialty chemicals company’s stock after purchasing an additional 3,723 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Kraton Corporation were worth $389,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in Kraton Corporation by 10.0% in the 2nd quarter. Legal & General Group Plc now owns 59,033 shares of the specialty chemicals company’s stock worth $2,032,000 after purchasing an additional 5,378 shares during the last quarter. Evermore Global Advisors LLC increased its position in Kraton Corporation by 18.9% in the 2nd quarter. Evermore Global Advisors LLC now owns 555,212 shares of the specialty chemicals company’s stock worth $19,122,000 after buying an additional 88,332 shares during the period. Alps Advisors Inc. increased its position in Kraton Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 17,059 shares of the specialty chemicals company’s stock worth $588,000 after buying an additional 44 shares during the period. Northpointe Capital LLC increased its position in Kraton Corporation by 104.5% in the 2nd quarter. Northpointe Capital LLC now owns 212,753 shares of the specialty chemicals company’s stock worth $7,327,000 after buying an additional 108,732 shares during the period. Finally, Wedge Capital Management L L P NC bought a new position in Kraton Corporation in the 2nd quarter worth approximately $287,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.
Several research analysts have commented on the company. BidaskClub raised Kraton Corporation from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reaffirmed a “sell” rating and issued a $27.00 price target (up from $26.00) on shares of Kraton Corporation in a research report on Sunday, June 25th. KeyCorp reaffirmed a “hold” rating on shares of Kraton Corporation in a research report on Friday, September 1st. Finally, Zacks Investment Research raised Kraton Corporation from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $34.50.
Kraton Corporation (NYSE:KRA) opened at 32.68 on Friday. The firm has a 50-day moving average price of $34.14 and a 200 day moving average price of $32.61. Kraton Corporation has a 12 month low of $24.95 and a 12 month high of $37.50. The company has a market capitalization of $1.02 billion, a P/E ratio of 23.46 and a beta of 1.28.
Kraton Corporation (NYSE:KRA) last released its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.24. Kraton Corporation had a return on equity of 9.52% and a net margin of 2.36%. The company had revenue of $525.30 million during the quarter, compared to analysts’ expectations of $506.58 million. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis. Analysts expect that Kraton Corporation will post $2.31 EPS for the current year.
In other news, SVP James Leo Simmons sold 4,252 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was 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 directly owns 25,695 shares of the company’s stock, valued at $945,832.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 5.01% of the company’s stock.
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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