Jacobs Levy Equity Management Inc. Buys 66,710 Shares of Kraton Corp (NYSE:KRA)
Jacobs Levy Equity Management Inc. grew its stake in Kraton Corp (NYSE:KRA) by 33.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 267,807 shares of the specialty chemicals company’s stock after buying an additional 66,710 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Kraton were worth $8,618,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc boosted its stake in shares of Kraton by 137.0% in the 1st quarter. Versant Capital Management Inc now owns 1,171 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 677 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Kraton in the 1st quarter valued at about $102,000. PNC Financial Services Group Inc. boosted its stake in shares of Kraton by 107.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,369 shares of the specialty chemicals company’s stock valued at $108,000 after buying an additional 1,744 shares during the period. NumerixS Investment Technologies Inc boosted its stake in shares of Kraton by 56.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,600 shares of the specialty chemicals company’s stock valued at $114,000 after buying an additional 1,300 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in shares of Kraton in the 1st quarter valued at about $209,000. Institutional investors and hedge funds own 96.43% of the company’s stock.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Kraton from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. TheStreet cut Kraton from a “b-” rating to a “c” rating in a research note on Thursday, April 25th. ValuEngine cut Kraton from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 25th. SunTrust Banks lifted their price objective on Kraton to $39.00 and gave the company a “hold” rating in a research note on Friday, March 1st. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. initiated coverage on Kraton in a research note on Tuesday, February 19th. They issued a “reduce” rating for the company. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $42.60.
KRA stock opened at $26.01 on Friday. The company has a market cap of $832.74 million, a P/E ratio of 7.54 and a beta of 2.20. Kraton Corp has a fifty-two week low of $19.13 and a fifty-two week high of $50.20. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.83 and a quick ratio of 0.78.
Kraton (NYSE:KRA) last posted its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.23. The firm had revenue of $456.40 million during the quarter, compared to analysts’ expectations of $491.65 million. Kraton had a return on equity of 15.20% and a net margin of 2.93%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. As a group, sell-side analysts anticipate that Kraton Corp will post 3.94 earnings per share for the current fiscal 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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