Kraton Corporation (KRA) Insider Stephen E. Tremblay Sells 49,623 Shares
Kraton Corporation (NYSE:KRA) insider Stephen E. Tremblay sold 49,623 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $48.02, for a total transaction of $2,382,896.46. Following the sale, the insider now directly owns 83,930 shares in the company, valued at approximately $4,030,318.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Kraton Corporation (NYSE:KRA) last released its quarterly earnings data on Tuesday, October 24th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.57. The firm had revenue of $510.90 million during the quarter, compared to analysts’ expectations of $481.77 million. Kraton Corporation had a return on equity of 14.19% and a net margin of 1.27%. Kraton Corporation’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share.
A number of equities research analysts have recently commented on the stock. Loop Capital assumed coverage on shares of Kraton Corporation in a research note on Thursday, September 28th. They set a “buy” rating and a $65.00 price objective on the stock. UBS AG lifted their price target on shares of Kraton Corporation from $28.00 to $30.00 and gave the company a “sell” rating in a research note on Wednesday, October 25th. BidaskClub cut shares of Kraton Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Kraton Corporation from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Tuesday, October 17th. Finally, TheStreet cut shares of Kraton Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $51.50.
A number of large investors have recently added to or reduced their stakes in KRA. BlackRock Inc. raised its position in Kraton Corporation by 48,153.2% in the first quarter. BlackRock Inc. now owns 3,811,520 shares of the specialty chemicals company’s stock worth $117,851,000 after acquiring an additional 3,803,621 shares in the last quarter. Mesirow Financial Investment Management Equity Management purchased a new position in Kraton Corporation in the second quarter worth $16,071,000. FMR LLC raised its position in Kraton Corporation by 53.2% in the first quarter. FMR LLC now owns 954,380 shares of the specialty chemicals company’s stock worth $29,509,000 after acquiring an additional 331,303 shares in the last quarter. Renaissance Technologies LLC raised its position in Kraton Corporation by 197.1% in the first quarter. Renaissance Technologies LLC now owns 331,300 shares of the specialty chemicals company’s stock worth $10,244,000 after acquiring an additional 219,791 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Kraton Corporation by 112.2% in the second quarter. Ameriprise Financial Inc. now owns 343,870 shares of the specialty chemicals company’s stock worth $11,842,000 after acquiring an additional 181,815 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Kraton Corporation Company Profile
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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