Millennium Management LLC Has $1.88 Million Stock Holdings in Kronos Worldwide, Inc. (NYSE:KRO)

Millennium Management LLC lifted its stake in Kronos Worldwide, Inc. (NYSE:KRO) by 55.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,469 shares of the specialty chemicals company’s stock after acquiring an additional 68,959 shares during the quarter. Millennium Management LLC owned approximately 0.17% of Kronos Worldwide worth $1,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KRO. Federated Hermes Inc. acquired a new position in Kronos Worldwide during the fourth quarter worth $25,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Kronos Worldwide in the fourth quarter valued at about $30,000. Aquatic Capital Management LLC grew its position in shares of Kronos Worldwide by 144.8% in the fourth quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 1,883 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new stake in shares of Kronos Worldwide in the fourth quarter valued at about $54,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of Kronos Worldwide in the fourth quarter valued at about $98,000. 15.11% of the stock is owned by institutional investors and hedge funds.

Kronos Worldwide Stock Down 1.5%

KRO stock opened at $6.24 on Tuesday. Kronos Worldwide, Inc. has a twelve month low of $6.19 and a twelve month high of $14.45. The company has a market cap of $717.36 million, a PE ratio of 7.70 and a beta of 1.22. The business’s 50-day simple moving average is $7.08 and its 200 day simple moving average is $8.63. The company has a quick ratio of 1.30, a current ratio of 2.68 and a debt-to-equity ratio of 0.56.

Kronos Worldwide (NYSE:KRO) last released its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $489.80 million for the quarter, compared to analyst estimates of $466.56 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Kronos Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, June 9th. Kronos Worldwide’s payout ratio is 24.10%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KRO. Wall Street Zen downgraded Kronos Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Barclays decreased their target price on Kronos Worldwide from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group decreased their target price on Kronos Worldwide from $11.00 to $8.50 and set a “sell” rating on the stock in a research report on Wednesday, May 14th.

Insider Buying and Selling at Kronos Worldwide

In related news, Director Kevin B. Kramer acquired 14,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $7.43 per share, with a total value of $104,020.00. Following the completion of the acquisition, the director now owns 21,460 shares of the company’s stock, valued at $159,447.80. This trade represents a 187.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

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.