Wedge Capital Management L L P NC Boosts Stake in Kraton Corp (KRA)
Wedge Capital Management L L P NC increased its holdings in Kraton Corp (NYSE:KRA) by 71.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,407 shares of the specialty chemicals company’s stock after buying an additional 3,932 shares during the period. Wedge Capital Management L L P NC’s holdings in Kraton were worth $205,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Aristotle Capital Boston LLC boosted its stake in Kraton by 8.3% during the 3rd quarter. Aristotle Capital Boston LLC now owns 312,205 shares of the specialty chemicals company’s stock valued at $14,720,000 after purchasing an additional 23,834 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Kraton in the 3rd quarter worth approximately $218,000. Advisors Asset Management Inc. lifted its stake in shares of Kraton by 169.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,162 shares of the specialty chemicals company’s stock worth $192,000 after acquiring an additional 2,616 shares during the period. Man Group plc lifted its stake in shares of Kraton by 8.5% in the 3rd quarter. Man Group plc now owns 214,197 shares of the specialty chemicals company’s stock worth $10,099,000 after acquiring an additional 16,829 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Kraton by 28.5% in the 3rd quarter. Bank of Montreal Can now owns 135,461 shares of the specialty chemicals company’s stock worth $6,387,000 after acquiring an additional 30,076 shares during the period. 96.42% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:KRA traded up $0.12 during trading on Monday, reaching $27.12. The company had a trading volume of 5,280 shares, compared to its average volume of 167,525. The firm has a market cap of $862.92 million, a P/E ratio of 9.52 and a beta of 2.05. Kraton Corp has a twelve month low of $19.13 and a twelve month high of $53.99. The company has a current ratio of 2.33, a quick ratio of 1.04 and a debt-to-equity ratio of 2.11.
KRA has been the subject of a number of research analyst reports. SunTrust Banks lowered shares of Kraton from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine lowered shares of Kraton from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Stifel Nicolaus initiated coverage on shares of Kraton in a research note on Monday, December 10th. They issued a “hold” rating and a $22.00 price target for the company. Zacks Investment Research lowered shares of Kraton from a “hold” rating to a “sell” rating in a research note on Thursday, October 18th. Finally, TheStreet lowered shares of Kraton from a “b-” rating to a “c+” rating in a research note on Monday, November 12th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Kraton currently has an average rating of “Hold” and an average target price of $45.67.
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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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