Lapides Asset Management Lowers stake in Kraton Performance Polymers Inc (KRA)

Kraton Performance Polymers Inc (KRA) : Lapides Asset Management reduced its stake in Kraton Performance Polymers Inc by 10.6% during the most recent quarter end. The investment management company now holds a total of 502,900 shares of Kraton Performance Polymers Inc which is valued at $16,454,888 after selling 59,600 shares in Kraton Performance Polymers Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Kraton Performance Polymers Inc makes up approximately 2.71% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Royce Associates Lp reduced its stake in KRA by selling 136,442 shares or 10.64% in the most recent quarter. The Hedge Fund company now holds 1,146,038 shares of KRA which is valued at $37,498,363. Kraton Performance Polymers Inc makes up approx 0.23% of Royce Associates Lp’s portfolio.Rothschild Asset Management Inc boosted its stake in KRA in the latest quarter, The investment management firm added 70,723 additional shares and now holds a total of 884,174 shares of Kraton Performance Polymers Inc which is valued at $25,393,477. Kraton Performance Polymers Inc makes up approx 0.44% of Rothschild Asset Management Inc’s portfolio.Mutual Of America Capital Management boosted its stake in KRA in the latest quarter, The investment management firm added 5,227 additional shares and now holds a total of 196,376 shares of Kraton Performance Polymers Inc which is valued at $5,639,919. Kraton Performance Polymers Inc makes up approx 0.12% of Mutual Of America Capital Management’s portfolio.Cutler Group Lp boosted its stake in KRA in the latest quarter, The investment management firm added 16,042 additional shares and now holds a total of 16,542 shares of Kraton Performance Polymers Inc which is valued at $505,027. Kraton Performance Polymers Inc makes up approx 0.03% of Cutler Group Lp’s portfolio.

Kraton Performance Polymers Inc opened for trading at $30.15 and hit $30.8192 on the upside on Monday, eventually ending the session at $30.51, with a gain of 2.01% or 0.6 points. The heightened volatility saw the trading volume jump to 4,97,809 shares. Company has a market cap of $941 M.

On the company’s financial health, Kraton Performance Polymers Inc reported $0.63 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $0.70. The company had revenue of $454.65 million for the quarter, compared to analysts expectations of $445.07 million. The company’s revenue was up 77.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS.

Kraton Performance Polymers Inc. is a producer of styrenic block copolymers (SBCs) and other engineered polymers. The Company’s products are found in many everyday applications including personal care products such as disposable diapers and the rubberized grips of toothbrushes razor blades and power tools. Its products are also used to impart tack and shear properties in a wide variety of adhesive products and to impart characteristics such as flexibility and durability in sealants and corrosion resistance in coatings. It also produces Cariflex isoprene rubber and isoprene rubber latex. Its Cariflex products are used in applications such as surgical gloves and condoms. It manufactures its polymers at five manufacturing facilities globally including its flagship facility in Belpre Ohio as well as facilities in Germany France Brazil and Japan. The facility in Japan is operated by an unconsolidated manufacturing joint venture.

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