Bank of New York Mellon Corp lessened its holdings in shares of Kronos Worldwide, Inc. (NYSE:KRO – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,157,442 shares of the specialty chemicals company’s stock after selling 15,257 shares during the period. Bank of New York Mellon Corp owned 1.01% of Kronos Worldwide worth $10,660,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Barclays PLC grew its stake in Kronos Worldwide by 80.9% during the 1st quarter. Barclays PLC now owns 11,666 shares of the specialty chemicals company’s stock valued at $108,000 after acquiring an additional 5,217 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Kronos Worldwide in the 1st quarter valued at approximately $11,246,000. SG Americas Securities LLC purchased a new stake in shares of Kronos Worldwide in the 1st quarter valued at approximately $100,000. Verdence Capital Advisors LLC grew its stake in shares of Kronos Worldwide by 10.2% in the 1st quarter. Verdence Capital Advisors LLC now owns 12,487 shares of the specialty chemicals company’s stock valued at $115,000 after buying an additional 1,153 shares during the period. Finally, Eads & Heald Wealth Management purchased a new stake in shares of Kronos Worldwide in the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 16.67% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on KRO. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kronos Worldwide from $12.00 to $11.00 in a research note on Monday, May 22nd. Barclays lowered their price objective on shares of Kronos Worldwide from $8.00 to $7.00 in a research report on Sunday, May 14th. Finally, StockNews.com cut shares of Kronos Worldwide from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Three analysts have rated the stock with a sell rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.00.
Insider Buying and Selling at Kronos Worldwide
In other Kronos Worldwide news, EVP Andrew B. Nace purchased 2,728 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $9.17 per share, with a total value of $25,015.76. Following the transaction, the executive vice president now directly owns 15,453 shares of the company’s stock, valued at approximately $141,704.01. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.
Kronos Worldwide Stock Performance
NYSE:KRO opened at $8.50 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.98 and a current ratio of 4.05. The stock has a market capitalization of $977.76 million, a P/E ratio of -42.50 and a beta of 1.06. The company has a 50 day moving average price of $8.96 and a 200 day moving average price of $9.17. Kronos Worldwide, Inc. has a fifty-two week low of $7.76 and a fifty-two week high of $13.19.
Kronos Worldwide (NYSE:KRO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The specialty chemicals company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.17). Kronos Worldwide had a negative return on equity of 2.46% and a negative net margin of 1.33%. The company had revenue of $443.20 million for the quarter, compared to analysts’ expectations of $527.74 million. Equities research analysts forecast that Kronos Worldwide, Inc. will post 0.01 EPS for the current year.
Kronos Worldwide Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Friday, September 1st will be given a $0.19 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.76 annualized dividend and a yield of 8.94%. Kronos Worldwide’s dividend payout ratio is presently -380.00%.
Kronos Worldwide Company Profile
Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.
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