Shell Asset Management Co. bought a new position in shares of Kronos Worldwide, Inc. (NYSE:KRO) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,055 shares of the specialty chemicals company’s stock, valued at approximately $440,000.
A number of other hedge funds have also recently added to or reduced their stakes in KRO. LSV Asset Management increased its holdings in Kronos Worldwide by 2,035.7% during the 2nd quarter. LSV Asset Management now owns 2,460,367 shares of the specialty chemicals company’s stock worth $55,432,000 after purchasing an additional 2,345,167 shares in the last quarter. BlackRock Inc. increased its holdings in Kronos Worldwide by 21.1% during the 2nd quarter. BlackRock Inc. now owns 1,895,717 shares of the specialty chemicals company’s stock worth $42,711,000 after purchasing an additional 329,784 shares in the last quarter. Bank of America Corp DE increased its holdings in Kronos Worldwide by 375.4% during the 2nd quarter. Bank of America Corp DE now owns 331,275 shares of the specialty chemicals company’s stock worth $7,465,000 after purchasing an additional 261,588 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Kronos Worldwide in the 3rd quarter valued at about $3,265,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Kronos Worldwide by 15.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,395,482 shares of the specialty chemicals company’s stock valued at $31,438,000 after acquiring an additional 188,757 shares in the last quarter. Hedge funds and other institutional investors own 18.58% of the company’s stock.
Several brokerages have recently weighed in on KRO. Barclays decreased their price objective on Kronos Worldwide from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday, August 13th. ValuEngine cut Kronos Worldwide from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st. Finally, Zacks Investment Research upgraded Kronos Worldwide from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Kronos Worldwide currently has a consensus rating of “Hold” and an average target price of $25.50.
Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Wednesday, November 7th. The specialty chemicals company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.49). The company had revenue of $410.30 million during the quarter, compared to the consensus estimate of $467.00 million. Kronos Worldwide had a net margin of 12.94% and a return on equity of 33.77%. Kronos Worldwide’s revenue was down 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 EPS. As a group, sell-side analysts forecast that Kronos Worldwide, Inc. will post 1.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, December 4th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, December 3rd. Kronos Worldwide’s payout ratio is 36.17%.
In related news, Vice Chairman Robert D. Graham acquired 10,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was bought at an average price of $12.50 per share, for a total transaction of $125,000.00. Following the acquisition, the insider now directly owns 11,000 shares of the company’s stock, valued at $137,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by company insiders.
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Kronos Worldwide Company Profile
Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. It produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.
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