Wells Fargo & Company MN increased its stake in shares of Kraton Corp (NYSE:KRA) by 20.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,735 shares of the specialty chemicals company’s stock after buying an additional 5,997 shares during the quarter. Wells Fargo & Company MN owned 0.11% of Kraton worth $1,445,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Kraton during the third quarter worth $169,000. LS Investment Advisors LLC grew its holdings in Kraton by 31.4% during the third quarter. LS Investment Advisors LLC now owns 5,369 shares of the specialty chemicals company’s stock worth $217,000 after buying an additional 1,282 shares in the last quarter. UBS Asset Management Americas Inc. bought a new stake in Kraton during the second quarter worth $220,000. 361 Capital LLC bought a new stake in Kraton during the third quarter worth $223,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Kraton during the second quarter worth $232,000. Institutional investors and hedge funds own 97.46% of the company’s stock.
In other news, Director Barry J. Goldstein sold 16,651 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $49.15, for a total transaction of $818,396.65. Following the transaction, the director now owns 42,323 shares of the company’s stock, valued at approximately $2,080,175.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Michael Fogarty sold 81,430 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $49.09, for a total value of $3,997,398.70. Following the transaction, the chief executive officer now directly owns 278,119 shares in the company, valued at approximately $13,652,861.71. The disclosure for this sale can be found here. Insiders sold a total of 198,454 shares of company stock valued at $9,645,791 in the last 90 days. Corporate insiders own 4.71% of the company’s stock.
Kraton (NYSE:KRA) last announced its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.57. The firm had revenue of $510.90 million during the quarter, compared to the consensus estimate of $481.77 million. Kraton had a return on equity of 14.19% and a net margin of 1.27%. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. equities research analysts expect that Kraton Corp will post 2.96 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Kraton from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 26th. ValuEngine downgraded Kraton from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. TheStreet downgraded Kraton from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. UBS Group upped their price objective on Kraton from $28.00 to $30.00 and gave the company a “sell” rating in a research note on Wednesday, October 25th. Finally, SunTrust Banks restated a “buy” rating and issued a $55.00 price objective (up previously from $45.00) on shares of Kraton in a research note on Wednesday, October 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Kraton presently has a consensus rating of “Hold” and a consensus target price of $51.50.
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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