Kraton Corp (KRA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of Kraton Corp (NYSE:KRA) by 2.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 382,923 shares of the specialty chemicals company’s stock after selling 10,629 shares during the period. Bank of New York Mellon Corp owned 1.22% of Kraton worth $15,485,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. US Bancorp DE grew its holdings in Kraton by 0.6% during the second quarter. US Bancorp DE now owns 3,827 shares of the specialty chemicals company’s stock worth $132,000 after purchasing an additional 21 shares during the period. LS Investment Advisors LLC lifted its position 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 acquiring an additional 1,282 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new stake in Kraton during the third quarter worth approximately $243,000. UBS Asset Management Americas Inc. acquired a new stake in Kraton during the second quarter worth approximately $220,000. Finally, Aperio Group LLC acquired a new stake in Kraton during the second quarter worth approximately $226,000. Institutional investors and hedge funds own 97.46% of the company’s stock.

Shares of Kraton Corp (KRA) opened at $48.36 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.19 and a debt-to-equity ratio of 2.85. The stock has a market cap of $1,537.58, a P/E ratio of 19.89 and a beta of 1.19. Kraton Corp has a 1 year low of $25.09 and a 1 year high of $51.23.

Kraton (NYSE:KRA) last released its quarterly earnings results on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.57. Kraton had a net margin of 1.27% and a return on equity of 14.19%. The company had revenue of $510.90 million during the quarter, compared to the consensus estimate of $481.77 million. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. sell-side analysts anticipate that Kraton Corp will post 2.96 EPS for the current fiscal year.

In other news, insider Stephen E. Tremblay sold 49,623 shares of Kraton stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $48.02, for a total value of $2,382,896.46. Following the completion of the sale, the insider now directly owns 83,930 shares in the company, valued at $4,030,318.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kevin Michael Fogarty sold 81,430 shares of Kraton stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $49.09, for a total transaction of $3,997,398.70. Following the completion of the sale, the chief executive officer now owns 278,119 shares of the company’s stock, valued at $13,652,861.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 218,614 shares of company stock valued at $10,434,139. 4.71% of the stock is owned by company insiders.

Several equities research analysts have issued reports on KRA shares. ValuEngine upgraded shares of Kraton from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks restated a “buy” rating and set a $55.00 price objective (up from $45.00) on shares of Kraton in a research report on Wednesday, October 11th. They noted that the move was a valuation call. BidaskClub upgraded shares of Kraton from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. KeyCorp restated a “hold” rating on shares of Kraton in a research report on Friday, September 1st. Finally, TheStreet downgraded shares of Kraton from a “b-” rating to a “c” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $51.50.

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About Kraton

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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Institutional Ownership by Quarter for Kraton (NYSE:KRA)

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