Shares last traded at $49.03 a great deal higher than $39.74, the stock’s 50 day moving average and much higher than the 200 day moving average of $35.26. The 50 day moving average was up $9.29 or +23.37% and the 200 day average went up $13.77 or +39.05%. (NYSE:KRA) shares saw heavy trading volume with 495K shares changing hands by the end of trading on Tuesday. Volume was up 51.28% over the stocks average daily volume.
Traders are feeling more bullish on shares of Kraton Corporation recently as shown by the downtick in short interest. The stock experienced a fall in short interest of -6.64% as of October 13, 2017 from the last reporting period. Short shares fell from 746,783 to 697,174 over that period. Days to cover decreased 0.0 to 2.0 and the percentage of shorted shares is 0.02% as of October 13.
There has been some selling insider activity on Kraton Corporation (NYSE:KRA) recently. Sr VP James Leo Simmons sold 6,950 shares at an average price of $47.40 on October 27th. That brings the Sr VP’s holdings to $1,016,351 as recorded in a recent Form 4 SEC filing.
These firms have modified their investment in KRA. Northpointe Capital LLC cut its position by shedding 86,262 shares a decrease of 40.5%. Northpointe Capital LLC currently owns 126,491 shares valued at $5,115,000. The value of the position overall is down by 30.2%. Bbva Compass Bancshares, Inc divested its investment by selling 70 shares a decrease of 32.6% in the quarter. Bbva Compass Bancshares, Inc now controls 145 shares worth $6,000. The total value of its holdings decreased 14.3%.
Aperio Group, LLC downsized its stake by shedding 474 shares a decrease of 7.2% as of 09/30/2017. Aperio Group, LLC controls 6,093 shares with a value of $246,000. The value of the position overall is up by 8.8%. As of quarter end Simplex Trading, LLC had bought 3,578 shares growing its holdings by 635.5%. The value of the investment in Kraton Corporation went from $19,000 to $167,000 increasing 778.9% since the last quarter.
On September 29, 2017 Loop Capital issued its first research report on the stock by announcing an initial rating of “Buy”. On October 25 UBS left the stock rating at “Sell” but raised the price target to $30.00 from $24.00.
The company currently has a P/E ratio of 35.20 and market capitalization is 1.53B. In the latest earnings report the EPS was $1.39 and is projected to be $2.69 for the current year with 31,210,000 shares currently outstanding. Next quarter’s EPS is forecasted at $0.75 with next year’s EPS anticipated to be $3.54.
Kraton Corporation, formerly Kraton Performance Polymers, Inc., launched on October 28, 2003, 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. Its SBCs are used in a range of applications, including adhesives, coatings, consumer and personal care products, sealants, lubricants, medical, packaging, automotive, paving, roofing and footwear products. The Company also sells isoprene rubber (IR) and isoprene rubber latex (IRL), which are non-SBC products primarily used in applications, such as medical products, personal care, adhesives, tackifiers, paints and coatings. It offers crude tall oil (CTO) and crude sulfate turpentine (CST)..