Legal & General Group Plc Has $1.66 Million Stake in Kraton Corporation (NYSE:KRA)

Legal & General Group Plc boosted its position in Kraton Corporation (NYSE:KRA) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,655 shares of the specialty chemicals company’s stock after buying an additional 574 shares during the period. Legal & General Group Plc’s holdings in Kraton Corporation were worth $1,657,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in Kraton Corporation by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 3,410 shares of the specialty chemicals company’s stock worth $105,000 after buying an additional 70 shares in the last quarter. US Bancorp DE increased its position in Kraton Corporation by 99.0% in the first quarter. US Bancorp DE now owns 3,806 shares of the specialty chemicals company’s stock worth $118,000 after buying an additional 1,893 shares in the last quarter. LS Investment Advisors LLC increased its position in Kraton Corporation by 279.4% in the first quarter. LS Investment Advisors LLC now owns 4,128 shares of the specialty chemicals company’s stock worth $128,000 after buying an additional 3,040 shares in the last quarter. Mason Street Advisors LLC increased its position in Kraton Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 7,229 shares of the specialty chemicals company’s stock worth $224,000 after buying an additional 473 shares in the last quarter. Finally, Airain ltd bought a new position in Kraton Corporation during the first quarter worth $228,000.

Kraton Corporation (KRA) opened at 34.94 on Friday. The stock has a market cap of $1.09 billion, a P/E ratio of 42.66 and a beta of 1.22. The firm’s 50-day moving average is $33.06 and its 200-day moving average is $30.73. Kraton Corporation has a 1-year low of $24.95 and a 1-year high of $37.50.

Kraton Corporation (NYSE:KRA) last announced its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.08. Kraton Corporation had a net margin of 1.44% and a return on equity of 8.50%. The firm had revenue of $458.10 million for the quarter, compared to the consensus estimate of $487.17 million. During the same period in the previous year, the firm posted $0.80 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that Kraton Corporation will post $2.11 EPS for the current year.

KRA has been the topic of a number of recent analyst reports. TheStreet raised shares of Kraton Corporation from a “c+” rating to a “b-” rating in a research note on Thursday, April 27th. BidaskClub raised shares of Kraton Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Kraton Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, UBS AG reaffirmed a “sell” rating and set a $26.00 price target (up previously from $24.00) on shares of Kraton Corporation in a research note on Friday, April 28th.

In related news, insider Kevin Michael Fogarty sold 27,968 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $35.09, for a total transaction of $981,397.12. Following the transaction, the insider now directly owns 196,689 shares of the company’s stock, valued at $6,901,817.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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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