Bank of America Corp DE Acquires 102,794 Shares of Kronos Worldwide, Inc. (NYSE:KRO)

Bank of America Corp DE lifted its holdings in Kronos Worldwide, Inc. (NYSE:KRO - Free Report) by 58.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 279,891 shares of the specialty chemicals company's stock after buying an additional 102,794 shares during the period. Bank of America Corp DE owned about 0.24% of Kronos Worldwide worth $2,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Federated Hermes Inc. purchased a new stake in shares of Kronos Worldwide during the fourth quarter worth $25,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Kronos Worldwide during the fourth quarter worth $30,000. Aquatic Capital Management LLC raised its holdings in shares of Kronos Worldwide by 144.8% during the fourth quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company's stock worth $31,000 after acquiring an additional 1,883 shares in the last quarter. Caisse Des Depots ET Consignations purchased a new stake in shares of Kronos Worldwide during the fourth quarter worth $54,000. Finally, Trexquant Investment LP purchased a new stake in shares of Kronos Worldwide during the fourth quarter worth $104,000. Institutional investors and hedge funds own 15.11% of the company's stock.

Kronos Worldwide Stock Down 2.1%

NYSE KRO traded down $0.14 during trading on Thursday, hitting $6.48. 263,904 shares of the company traded hands, compared to its average volume of 213,645. Kronos Worldwide, Inc. has a 12 month low of $6.13 and a 12 month high of $14.37. The business has a fifty day simple moving average of $7.02 and a 200 day simple moving average of $8.57. The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $745.20 million, a P/E ratio of 8.00 and a beta of 1.22.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%. The company had revenue of $489.80 million for the quarter, compared to the consensus estimate of $466.56 million.

Kronos Worldwide Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.09%. Kronos Worldwide's payout ratio is presently 24.10%.

Wall Street Analyst Weigh In

KRO has been the subject of several recent research reports. The Goldman Sachs Group cut their price objective on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a report on Wednesday, May 14th. Barclays cut their target price on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a report on Wednesday, May 28th. Finally, Wall Street Zen lowered Kronos Worldwide from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Insider Transactions at Kronos Worldwide

In other Kronos Worldwide news, Director Kevin B. Kramer acquired 14,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $7.43 per share, for a total transaction of $104,020.00. Following the completion of the purchase, the director now owns 21,460 shares of the company's stock, valued at approximately $159,447.80. This trade represents a 187.67% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.