Arizona State Retirement System Trims Stake in Kraton Corp (KRA)

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Arizona State Retirement System cut its holdings in Kraton Corp (NYSE:KRA) by 7.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,458 shares of the specialty chemicals company’s stock after selling 3,543 shares during the period. Arizona State Retirement System owned about 0.15% of Kraton worth $2,144,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. James Investment Research Inc. increased its holdings in shares of Kraton by 1.9% in the 2nd quarter. James Investment Research Inc. now owns 62,820 shares of the specialty chemicals company’s stock worth $2,899,000 after buying an additional 1,185 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Kraton in the 2nd quarter worth about $1,004,000. Schwab Charles Investment Management Inc. increased its holdings in shares of Kraton by 20.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 276,478 shares of the specialty chemicals company’s stock worth $13,191,000 after buying an additional 47,642 shares during the last quarter. Mackay Shields LLC increased its holdings in shares of Kraton by 65.5% in the 2nd quarter. Mackay Shields LLC now owns 71,500 shares of the specialty chemicals company’s stock worth $3,299,000 after buying an additional 28,300 shares during the last quarter. Finally, Bailard Inc. bought a new stake in shares of Kraton in the 1st quarter worth about $625,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

A number of research firms have recently weighed in on KRA. UBS Group boosted their target price on shares of Kraton from $38.00 to $39.00 and gave the stock a “sell” rating in a report on Thursday, July 26th. ValuEngine downgraded shares of Kraton from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Zacks Investment Research upgraded shares of Kraton from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Finally, Loop Capital set a $76.00 price target on shares of Kraton and gave the company a “buy” rating in a report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Kraton currently has a consensus rating of “Hold” and an average price target of $56.50.

Shares of NYSE:KRA opened at $46.09 on Thursday. The stock has a market cap of $1.50 billion, a P/E ratio of 16.01 and a beta of 1.28. Kraton Corp has a 12 month low of $31.48 and a 12 month high of $53.99. The company has a debt-to-equity ratio of 2.41, a quick ratio of 1.12 and a current ratio of 2.40.

Kraton (NYSE:KRA) last issued its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.12). The firm had revenue of $538.40 million for the quarter, compared to the consensus estimate of $544.78 million. Kraton had a net margin of 3.60% and a return on equity of 17.62%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.82 earnings per share. equities analysts forecast that Kraton Corp will post 3.67 EPS for the current year.

In related news, insider Chris H. Russell sold 1,600 shares of the company’s stock in a transaction dated Thursday, June 21st. The shares were sold at an average price of $48.23, for a total transaction of $77,168.00. Following the transaction, the insider now directly owns 7,024 shares in the company, valued at approximately $338,767.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen E. Tremblay sold 9,174 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were sold at an average price of $49.50, for a total transaction of $454,113.00. Following the transaction, the chief financial officer now owns 98,498 shares in the company, valued at $4,875,651. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.

Kraton Profile

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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Institutional Ownership by Quarter for Kraton (NYSE:KRA)

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