State Street Corp Boosts Stake in Kraton Corp (NYSE:KRA)

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State Street Corp increased its position in Kraton Corp (NYSE:KRA) by 10.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,063,736 shares of the specialty chemicals company’s stock after buying an additional 101,156 shares during the period. State Street Corp’s holdings in Kraton were worth $8,616,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Royal Bank of Canada boosted its stake in shares of Kraton by 933.1% during the first quarter. Royal Bank of Canada now owns 12,159 shares of the specialty chemicals company’s stock valued at $98,000 after purchasing an additional 10,982 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of Kraton in the first quarter valued at about $138,000. Lumbard & Kellner LLC raised its holdings in shares of Kraton by 108.7% in the first quarter. Lumbard & Kellner LLC now owns 300,628 shares of the specialty chemicals company’s stock valued at $2,435,000 after acquiring an additional 156,610 shares in the last quarter. First Wilshire Securities Management Inc. raised its holdings in shares of Kraton by 154.2% in the first quarter. First Wilshire Securities Management Inc. now owns 887,766 shares of the specialty chemicals company’s stock valued at $7,191,000 after acquiring an additional 538,497 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Kraton in the first quarter valued at about $84,000. Institutional investors and hedge funds own 91.73% of the company’s stock.

Several research firms recently weighed in on KRA. Loop Capital lifted their price objective on Kraton from $23.00 to $34.00 and gave the company a “buy” rating in a report on Monday, May 4th. UBS Group boosted their target price on shares of Kraton from $4.50 to $8.00 and gave the stock a “sell” rating in a report on Wednesday, May 6th. Zacks Investment Research downgraded shares of Kraton from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, SunTrust Banks boosted their target price on shares of Kraton from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.67.

Shares of KRA stock opened at $13.15 on Friday. Kraton Corp has a fifty-two week low of $4.45 and a fifty-two week high of $35.00. The firm has a market capitalization of $418.83 million, a price-to-earnings ratio of 2.15 and a beta of 3.14. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 1.84. The stock’s 50-day simple moving average is $16.83 and its 200-day simple moving average is $14.29.

Kraton (NYSE:KRA) last issued its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.22. The business had revenue of $355.68 million for the quarter, compared to analyst estimates of $370.70 million. Kraton had a return on equity of 3.64% and a net margin of 12.08%. As a group, equities analysts forecast that Kraton Corp will post 0.09 earnings per share for the current year.

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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