Kraton Corp (KRA) Stake Decreased by Rubric Capital Management LP

Rubric Capital Management LP lessened its holdings in shares of Kraton Corp (NYSE:KRA) by 62.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,646 shares of the specialty chemicals company’s stock after selling 436,354 shares during the period. Kraton makes up 1.3% of Rubric Capital Management LP’s portfolio, making the stock its 27th biggest position. Rubric Capital Management LP’s holdings in Kraton were worth $12,431,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in Kraton in the 2nd quarter valued at approximately $176,000. Advisors Asset Management Inc. lifted its stake in Kraton by 169.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,162 shares of the specialty chemicals company’s stock valued at $192,000 after acquiring an additional 2,616 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Kraton in the 3rd quarter valued at approximately $240,000. Xact Kapitalforvaltning AB lifted its stake in Kraton by 24.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 5,644 shares of the specialty chemicals company’s stock valued at $260,000 after acquiring an additional 1,100 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Kraton in the 2nd quarter valued at approximately $311,000. Institutional investors and hedge funds own 96.34% of the company’s stock.

KRA stock opened at $25.70 on Monday. The company has a current ratio of 2.33, a quick ratio of 1.04 and a debt-to-equity ratio of 2.11. The company has a market cap of $803.08 million, a P/E ratio of 9.02 and a beta of 1.78. Kraton Corp has a 1-year low of $24.29 and a 1-year high of $53.99.

Kraton (NYSE:KRA) last posted its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.19). The business had revenue of $523.11 million for the quarter, compared to analyst estimates of $528.00 million. Kraton had a return on equity of 14.83% and a net margin of 5.87%. Equities analysts forecast that Kraton Corp will post 3.16 EPS for the current year.

In other Kraton news, insider Stephen E. Tremblay sold 13,085 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $49.50, for a total value of $647,707.50. Following the transaction, the insider now directly owns 102,409 shares of the company’s stock, valued at approximately $5,069,245.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin Michael Fogarty sold 27,748 shares of the company’s stock in a transaction on Friday, September 21st. The shares were sold at an average price of $50.00, for a total value of $1,387,400.00. Following the completion of the transaction, the chief executive officer now directly owns 273,281 shares in the company, valued at $13,664,050. The disclosure for this sale can be found here. Insiders have sold a total of 50,007 shares of company stock worth $2,489,221 over the last three months. 3.70% of the stock is owned by insiders.

KRA has been the topic of several research reports. ValuEngine cut Kraton from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Zacks Investment Research lowered Kraton from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. TheStreet lowered Kraton from a “b-” rating to a “c+” rating in a research report on Monday, November 12th. SunTrust Banks lowered Kraton from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Loop Capital set a $76.00 price target on Kraton and gave the stock a “buy” rating in a research report on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. Kraton has a consensus rating of “Hold” and a consensus target price of $57.50.

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Kraton Company 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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