Kraton Corp (KRA) Shares Bought by Great West Life Assurance Co. Can
Great West Life Assurance Co. Can boosted its position in Kraton Corp (NYSE:KRA) by 25.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,142 shares of the specialty chemicals company’s stock after purchasing an additional 11,744 shares during the period. Great West Life Assurance Co. Can owned approximately 0.19% of Kraton worth $2,201,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. US Bancorp DE increased its holdings in shares of Kraton by 0.6% in the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock valued at $132,000 after buying an additional 21 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Kraton in the third quarter valued at $169,000. LS Investment Advisors LLC increased its holdings in shares of Kraton 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 buying an additional 1,282 shares in the last quarter. UBS Asset Management Americas Inc. bought a new position in shares of Kraton in the second quarter valued at $220,000. Finally, 361 Capital LLC bought a new position in shares of Kraton in the third quarter valued at $223,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.
In other news, insider Stephen E. Tremblay sold 49,623 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.02, for a total transaction of $2,382,896.46. Following the sale, the insider now directly owns 83,930 shares of the company’s stock, valued at $4,030,318.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Holger R. Jung sold 21,202 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $39.64, for a total transaction of $840,447.28. Following the sale, the senior vice president now directly owns 48,819 shares in the company, valued at $1,935,185.16. The disclosure for this sale can be found here. Insiders have sold 218,614 shares of company stock worth $10,434,139 over the last three months. 4.71% of the stock is owned by insiders.
Kraton (NYSE:KRA) last released its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.57. Kraton had a net margin of 1.27% and a return on equity of 14.19%. The business had revenue of $510.90 million for the quarter, compared to analysts’ expectations of $481.77 million. During the same period in the prior year, the firm earned $0.63 earnings per share. Kraton’s revenue was up 12.5% compared to the same quarter last year. research analysts predict that Kraton Corp will post 2.96 EPS for the current fiscal year.
Several analysts have issued reports on the stock. BidaskClub raised shares of Kraton from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. ValuEngine downgraded shares of Kraton from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. SunTrust Banks reissued a “buy” rating and set a $55.00 target price (up from $45.00) on shares of Kraton in a research note on Wednesday, October 11th. They noted that the move was a valuation call. UBS initiated coverage on shares of Kraton in a research note on Friday, September 29th. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Loop Capital initiated coverage on shares of Kraton in a research note on Thursday, September 28th. They issued a “buy” rating and a $65.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Kraton currently has a consensus rating of “Hold” and an average price target of $51.50.
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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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