Assenagon Asset Management S.A. Invests $690,000 in Kraton Corp (NYSE:KRA)

Assenagon Asset Management S.A. acquired a new position in shares of Kraton Corp (NYSE:KRA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 21,378 shares of the specialty chemicals company’s stock, valued at approximately $690,000.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Kraton by 1.9% during the 2nd quarter. BlackRock Inc. now owns 4,667,133 shares of the specialty chemicals company’s stock worth $145,008,000 after purchasing an additional 88,740 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kraton by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 3,529,351 shares of the specialty chemicals company’s stock worth $109,657,000 after purchasing an additional 114,836 shares in the last quarter. Invesco Ltd. raised its stake in shares of Kraton by 25.2% during the 2nd quarter. Invesco Ltd. now owns 835,483 shares of the specialty chemicals company’s stock worth $25,958,000 after purchasing an additional 168,065 shares in the last quarter. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Kraton by 4.8% during the 2nd quarter. Rothschild & Co. Asset Management US Inc. now owns 825,107 shares of the specialty chemicals company’s stock worth $25,636,000 after purchasing an additional 37,555 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Kraton by 0.6% during the 2nd quarter. Northern Trust Corp now owns 676,625 shares of the specialty chemicals company’s stock worth $21,024,000 after purchasing an additional 4,036 shares in the last quarter. Institutional investors own 95.77% of the company’s stock.

KRA opened at $21.96 on Wednesday. Kraton Corp has a 1-year low of $19.13 and a 1-year high of $40.76. The stock’s fifty day simple moving average is $29.04 and its 200 day simple moving average is $29.52. The company has a current ratio of 1.89, a quick ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a market cap of $699.84 million, a PE ratio of 6.95 and a beta of 2.37.

Kraton (NYSE:KRA) last posted its quarterly earnings results on Wednesday, July 24th. The specialty chemicals company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.49. Kraton had a return on equity of 17.62% and a net margin of 5.92%. The business had revenue of $495.28 million for the quarter, compared to analysts’ expectations of $539.35 million. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts forecast that Kraton Corp will post 3.17 earnings per share for the current year.

In other Kraton news, SVP Holger R. Jung sold 13,102 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $30.75, for a total value of $402,886.50. Following the transaction, the senior vice president now directly owns 43,738 shares of the company’s stock, valued at approximately $1,344,943.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Holger R. Jung sold 6,640 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $31.04, for a total value of $206,105.60. Following the completion of the transaction, the senior vice president now directly owns 43,738 shares in the company, valued at $1,357,627.52. The disclosure for this sale can be found here. Corporate insiders own 3.32% of the company’s stock.

A number of equities research analysts have recently issued reports on the company. Macquarie set a $33.00 price objective on Kraton and gave the stock a “hold” rating in a research note on Friday, October 11th. SunTrust Banks dropped their price objective on Kraton from $33.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. UBS Group dropped their price target on Kraton from $25.00 to $17.00 and set a “sell” rating on the stock in a research note on Friday, October 11th. ValuEngine upgraded Kraton from a “sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, Zacks Investment Research cut Kraton from a “hold” rating to a “sell” rating in a research note on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $26.40.

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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