Nuveen LLC Takes Position in Kronos Worldwide Inc $KRO

Key Points

• Nuveen LLC acquired a new position in Kronos Worldwide Inc, purchasing 279,359 shares valued at approximately $2,090,000, making it a noteworthy investment in the specialty chemicals sector.
• Kronos Worldwide reported a net loss per share of ($0.08) for the last quarter, missing the consensus estimate of $0.13, with revenues of $494.40 million.
• The company recently declared a quarterly dividend of $0.05 per share, reflecting a 3.1% dividend yield and a payout ratio of 34.48%.

Nuveen LLC purchased a new position in Kronos Worldwide Inc (NYSE:KRO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 279,359 shares of the specialty chemicals company's stock, valued at approximately $2,090,000. Nuveen LLC owned 0.24% of Kronos Worldwide at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KRO. Janney Montgomery Scott LLC lifted its stake in Kronos Worldwide by 365.1% in the first quarter. Janney Montgomery Scott LLC now owns 53,255 shares of the specialty chemicals company's stock worth $398,000 after acquiring an additional 41,805 shares during the period. Bank of America Corp DE increased its position in Kronos Worldwide by 58.0% during the 4th quarter. Bank of America Corp DE now owns 279,891 shares of the specialty chemicals company's stock valued at $2,729,000 after purchasing an additional 102,794 shares during the period. Millennium Management LLC increased its position in Kronos Worldwide by 55.8% during the 4th quarter. Millennium Management LLC now owns 192,469 shares of the specialty chemicals company's stock valued at $1,877,000 after purchasing an additional 68,959 shares during the period. Allworth Financial LP increased its position in Kronos Worldwide by 260.5% during the 1st quarter. Allworth Financial LP now owns 68,501 shares of the specialty chemicals company's stock valued at $528,000 after purchasing an additional 49,501 shares during the period. Finally, Luminus Management LLC purchased a new position in Kronos Worldwide during the 4th quarter valued at $2,538,000. 15.11% of the stock is owned by hedge funds and other institutional investors.

Kronos Worldwide Stock Down 1.0%

KRO stock traded down $0.06 during midday trading on Thursday, hitting $5.97. The stock had a trading volume of 78,198 shares, compared to its average volume of 254,791. The firm has a market cap of $686.87 million, a price-to-earnings ratio of 10.29 and a beta of 1.08. The business has a 50-day moving average of $6.09 and a two-hundred day moving average of $6.88. Kronos Worldwide Inc has a 52-week low of $4.70 and a 52-week high of $12.98. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.79 and a quick ratio of 1.04.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). The firm had revenue of $494.40 million during the quarter, compared to analysts' expectations of $508.47 million. Kronos Worldwide had a return on equity of 8.04% and a net margin of 3.57%.

Kronos Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 5th. Kronos Worldwide's payout ratio is 34.48%.

Analyst Ratings Changes

A number of research analysts have issued reports on KRO shares. Barclays reduced their price objective on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Wall Street Zen downgraded shares of Kronos Worldwide from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, The Goldman Sachs Group reduced their price target on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating on the stock in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of "Sell" and an average target price of $7.75.

Kronos Worldwide 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.