Bank of New York Mellon Corp Invests $5.03 Million in Kronos Worldwide Inc $KRO

Key Points

• Bank of New York Mellon acquired 794,684 shares of Kronos Worldwide valued at approximately $5.03 million, representing about 0.69% of the company. Institutional investors collectively own 15.11% of KRO.
• Analyst sentiment remains mixed: Deutsche Bank raised its price target to $9 and issued a Buy rating, while Goldman Sachs maintained a Sell rating. MarketBeat reports an overall “Reduce” rating and an $8.50 consensus target.
• Kronos Worldwide exceeded quarterly earnings expectations, reporting $0.13 in EPS versus $0.07 expected and revenue of $558.1 million. The company also declared a quarterly dividend of $0.05 per share, implying a 2.4% annualized yield.

Bank of New York Mellon Corp acquired a new stake in shares of Kronos Worldwide Inc (NYSE:KRO - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 794,684 shares of the specialty chemicals company's stock, valued at approximately $5,030,000. Bank of New York Mellon Corp owned approximately 0.69% of Kronos Worldwide as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in KRO. Raymond James Financial Inc. bought a new stake in shares of Kronos Worldwide in the 2nd quarter worth $42,000. Jain Global LLC bought a new stake in Kronos Worldwide in the 4th quarter valued at $46,000. Susquehanna Portfolio Strategies LLC purchased a new position in Kronos Worldwide during the 4th quarter valued at approximately $53,000. Alpine Global Management LLC purchased a new stake in Kronos Worldwide during the 4th quarter valued at $54,000. Finally, CANADA LIFE ASSURANCE Co purchased a new position in Kronos Worldwide during the 4th quarter valued at $58,000. 15.11% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KRO shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kronos Worldwide from $6.00 to $9.00 and gave the stock a "buy" rating in a research note on Tuesday, August 25th. The Goldman Sachs Group reissued a "sell" rating and set a $8.00 price target on shares of Kronos Worldwide in a research report on Thursday, August 13th. Wall Street Zen raised Kronos Worldwide from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Zacks Research lowered Kronos Worldwide from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded Kronos Worldwide from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus target price of $8.50.

Kronos Worldwide Price Performance

Shares of NYSE KRO opened at $8.42 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 3.30 and a quick ratio of 1.55. The company has a market cap of $969.14 million, a PE ratio of -8.86 and a beta of 1.08. Kronos Worldwide Inc has a 1-year low of $4.08 and a 1-year high of $9.17. The stock has a fifty day moving average price of $7.24 and a 200 day moving average price of $6.74.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. Kronos Worldwide had a negative return on equity of 12.28% and a negative net margin of 5.63%.The firm had revenue of $558.10 million for the quarter, compared to the consensus estimate of $484.51 million. Sell-side analysts forecast that Kronos Worldwide Inc will post 0.35 EPS for the current year.

Kronos Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. Kronos Worldwide's payout ratio is currently -21.05%.

Kronos Worldwide Profile

Kronos Worldwide, Inc is a leading global producer of titanium dioxide (TiO₂) pigments, a white pigment widely used in paints, coatings, plastics, paper, and many other industrial and consumer applications. Headquartered in Dallas, Texas, the company markets its products under the “Kronos” brand and has built a reputation for high-quality pigment performance, technical support, and reliable supply. Kronos serves a diverse customer base across coatings manufacturers, plastic compounders, and paper producers, delivering solutions tailored to enhance opacity, color strength, and durability.

In addition to its core TiO₂ offerings, Kronos produces and markets iron oxide pigments and zircon-based specialty chemicals, expanding its portfolio to meet the needs of markets such as construction, ceramics, and glass.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.