Richard S. Meisenberg increased its stake in Kraton Corp (KRA) by 290% based on its latest 2016Q3 regulatory filing with the SEC. Ack Asset Management Llc bought 290,000 shares as the company’s stock rose 25.91% with the market. The hedge fund run by Richard S. Meisenberg held 390,000 shares of the basic industries company at the end of 2016Q3, valued at $13.67 million, up from 100,000 at the end of the previous reported quarter. Ack Asset Management Llc who had been investing in Kraton Corp for a number of months, seems to be bullish on the $898.88 million market cap company. The stock is down 0.21% or $0.06 hitting $28.39, despite the positive news. About 128,356 shares traded hands. Kraton Corp (NYSE:KRA) has declined 1.01% since June 7, 2016 and is downtrending. It has underperformed by 8.43% the S&P500.
Ack Asset Management Llc, which manages about $419.76M and $329.91 million US Long portfolio, decreased its stake in Stoneridge Inc (NYSE:SRI) by 280,208 shares to 209,792 shares, valued at $3.86 million in 2016Q3, according to the filing.
Founder and manager of ACK Asset Management, Richard S. Meisenberg is a man who possesses a strategy that rests solely on three things: a wide outlook on the economy, a short/long policy and the eye for catalysts. Before forming an asset management company of his own in 2005, he was a former analyst focused on small – and mid – cap stocks at Oppenheimer & Co. and Smith Barney. He also became a founding partner of the Palisade Capital Management. As it happens, ACK Asset Management is not actually owned alone by Richard as he has John H. Reilly III as his main business partner. Ack Asset Management Llc is a New York-based hedge fund that was founded by Richard S. Meisenberg. It had more than $419.76 million assets under management in April, 2014. Taken from Ack Asset Management latest Adv, the fund reported to have 10 full and part-time employees. Among which 5 performing investment advisory and research functions. The hedge fund had between 1-10 clients.
Insitutional Activity: The institutional sentiment increased to 1.08 in 2016 Q3. Its up 0.16, from 0.92 in 2016Q2. The ratio is positive, as 14 funds sold all KRA shares owned while 62 reduced positions. 34 funds bought stakes while 48 increased positions. They now own 28.88 million shares or 2.52% less from 29.63 million shares in 2016Q2. California Employees Retirement System has 0.01% invested in the company for 143,600 shares. First Wilshire Secs Mgmt reported 124,024 shares or 1.3% of all its holdings. Millennium Mngmt Ltd Liability Corporation has 0% invested in the company for 32,815 shares. Lsv Asset Mngmt holds 181,736 shares or 0.01% of its portfolio. Vanguard Gp owns 2.59M shares or 0.01% of their US portfolio. Parametric Portfolio Assocs Ltd Liability Corp reported 127,185 shares or 0.01% of all its holdings. Geode Cap Management Limited Liability Company holds 0% of its portfolio in Kraton Corp (NYSE:KRA) for 207,188 shares. Prudential Incorporated accumulated 55,324 shares or 0% of the stock. Moreover, Goldman Sachs Gru has 0% invested in Kraton Corp (NYSE:KRA) for 55,964 shares. Creative Planning holds 0% or 100 shares in its portfolio. Clarivest Asset Mngmt Ltd Liability Com has 0.01% invested in the company for 12,419 shares. Huntington Retail Bank has 696 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 0% of its portfolio in the stock. Eagle Boston holds 231,398 shares or 1.04% of its portfolio. Anchor Bolt Ltd Partnership accumulated 1.85% or 1.72M shares.
Insider Transactions: Since August 11, 2016, the stock had 0 buys, and 5 sales for $2.44 million net activity. 16,002 shares were sold by Conley Melinda Scissors, worth $531,266 on Thursday, August 11. $143,415 worth of Kraton Corp (NYSE:KRA) was sold by Simmons James Leo on Tuesday, August 16. Shares for $540,402 were sold by SMITH DAN F. Twitchell Karen A. sold 4,000 shares worth $145,226. Shares for $1.08 million were sold by Fogarty Kevin Michael on Thursday, November 17.
More notable recent Kraton Corp (NYSE:KRA) news were published by: Prnewswire.com which released: “Kraton Performance Polymers, Inc. Announces Name Change to Kraton Corporation” on September 14, 2016, also Prnewswire.com with their article: “Kraton Announces Global HSBC Price Increase” published on December 15, 2016, Nasdaq.com published: “Kraton Corp Breaks Below 200-Day Moving Average – Notable for KRA” on December 30, 2016. More interesting news about Kraton Corp (NYSE:KRA) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on October 08, 2010 as well as Zacks.com‘s news article titled: “Kraton Corporation Now a Strong Sell on Bleak Prospects” with publication date: September 29, 2016.
According to Zacks Investment Research, “Kraton Corp is a producer of styrenic block copolymers, specialty polymers and performance products derived from pine wood pulping co-products. The company’s product are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing applications. Kraton Corporation, formerly known as Kraton Performance Polymers Inc., is headquartered in Houston, Texas.”
KRA Company Profile
Kraton Corporation, formerly Kraton Performance Polymers, Inc., incorporated on October 28, 2003, is a specialty chemicals company. The Firm makes styrenic block copolymers (SBCs) and other engineered polymers. The Firm also produces specialty products primarily derived from pine wood pulping co-products. The Firm operates through the manufacturing and marketing of engineered polymers segment. The Company’s 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 Firm 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). The Company’s pine specialty products are sold into adhesive, road and construction and tire markets, and it produces and sells a range of chemical intermediates into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks, flavors and fragrances and mining.
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