Lapides Asset Management LLC Has $5.09 Million Stock Holdings in Kraton Corp (NYSE:KRA)

Lapides Asset Management LLC lessened its position in Kraton Corp (NYSE:KRA) by 28.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 294,800 shares of the specialty chemicals company’s stock after selling 120,100 shares during the quarter. Kraton makes up about 2.9% of Lapides Asset Management LLC’s portfolio, making the stock its 12th biggest position. Lapides Asset Management LLC owned about 0.93% of Kraton worth $5,094,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Invesco Ltd. boosted its position in shares of Kraton by 19.2% during the 1st quarter. Invesco Ltd. now owns 1,070,423 shares of the specialty chemicals company’s stock valued at $8,671,000 after purchasing an additional 172,094 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Kraton by 15.6% in the first quarter. Alliancebernstein L.P. now owns 50,080 shares of the specialty chemicals company’s stock worth $406,000 after purchasing an additional 6,750 shares during the last quarter. Lumbard & Kellner LLC raised its stake 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 worth $2,435,000 after purchasing an additional 156,610 shares during the last quarter. Hancock Whitney Corp increased its position in shares of Kraton by 1.3% during the first quarter. Hancock Whitney Corp now owns 105,633 shares of the specialty chemicals company’s stock valued at $856,000 after acquiring an additional 1,373 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Kraton by 5.2% during the first quarter. JPMorgan Chase & Co. now owns 357,574 shares of the specialty chemicals company’s stock valued at $2,897,000 after acquiring an additional 17,531 shares during the last quarter. Hedge funds and other institutional investors own 91.73% of the company’s stock.

Shares of KRA stock traded down $0.86 on Friday, reaching $13.15. The company’s stock had a trading volume of 689,636 shares, compared to its average volume of 323,826. The company has a quick ratio of 0.89, a current ratio of 1.84 and a debt-to-equity ratio of 0.96. Kraton Corp has a 12-month low of $4.45 and a 12-month high of $35.00. The company has a market capitalization of $418.88 million, a P/E ratio of 2.15 and a beta of 3.14. 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 data on Wednesday, July 29th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.22. Kraton had a return on equity of 3.64% and a net margin of 12.08%. The company had revenue of $355.68 million for the quarter, compared to the consensus estimate of $370.70 million. Research analysts expect that Kraton Corp will post 0.09 EPS for the current year.

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

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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