Millennium Management LLC decreased its holdings in shares of Kraton (NYSE:KRA) by 86.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,290 shares of the specialty chemicals company’s stock after selling 378,984 shares during the quarter. Millennium Management LLC’s holdings in Kraton were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Globeflex Capital L P grew its holdings in shares of Kraton by 6,120.0% during the fourth quarter. Globeflex Capital L P now owns 2,177 shares of the specialty chemicals company’s stock valued at $105,000 after buying an additional 2,142 shares in the last quarter. First Quadrant L P CA purchased a new position in shares of Kraton during the fourth quarter valued at $200,000. SG Americas Securities LLC purchased a new position in shares of Kraton during the third quarter valued at $169,000. AMP Capital Investors Ltd purchased a new position in shares of Kraton during the fourth quarter valued at $202,000. Finally, Amalgamated Bank purchased a new position in shares of Kraton during the fourth quarter valued at $209,000. Institutional investors and hedge funds own 95.91% of the company’s stock.
A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Kraton from a “hold” rating to a “sell” rating in a report on Wednesday. Loop Capital set a $76.00 price objective on Kraton and gave the company a “buy” rating in a research report on Tuesday, March 20th. ValuEngine raised Kraton from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. TheStreet raised Kraton from a “c” rating to a “b-” rating in a research report on Thursday, March 1st. Finally, UBS reissued a “sell” rating and set a $33.00 price objective (up previously from $30.00) on shares of Kraton in a research report on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $55.00.
KRA opened at $50.56 on Wednesday. The firm has a market cap of $1,637.94, a P/E ratio of 17.74 and a beta of 1.18. Kraton has a 1 year low of $30.70 and a 1 year high of $53.99. The company has a quick ratio of 0.96, a current ratio of 2.08 and a debt-to-equity ratio of 2.36.
Kraton (NYSE:KRA) last released its quarterly earnings data on Tuesday, February 20th. The specialty chemicals company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.03. The firm had revenue of $465.97 million during the quarter, compared to analysts’ expectations of $437.75 million. Kraton had a return on equity of 15.47% and a net margin of 4.98%. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. analysts predict that Kraton will post 3.74 earnings per share for the current year.
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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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