Millennium Management LLC boosted its holdings in Kronos Worldwide, Inc. (NYSE:KRO - Free Report) by 55.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 192,469 shares of the specialty chemicals company's stock after buying an additional 68,959 shares during the period. Millennium Management LLC owned approximately 0.17% of Kronos Worldwide worth $1,877,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its position in Kronos Worldwide by 58.0% in the 4th quarter. Bank of America Corp DE now owns 279,891 shares of the specialty chemicals company's stock worth $2,729,000 after buying an additional 102,794 shares during the period. Luminus Management LLC acquired a new stake in shares of Kronos Worldwide during the 4th quarter worth approximately $2,538,000. Rhumbline Advisers grew its holdings in shares of Kronos Worldwide by 8.7% during the 4th quarter. Rhumbline Advisers now owns 34,948 shares of the specialty chemicals company's stock worth $341,000 after purchasing an additional 2,800 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in shares of Kronos Worldwide during the 4th quarter worth approximately $257,000. Finally, Boston Partners boosted its stake in Kronos Worldwide by 80.4% in the 4th quarter. Boston Partners now owns 1,412,106 shares of the specialty chemicals company's stock valued at $13,765,000 after buying an additional 629,387 shares in the last quarter. 15.11% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have commented on KRO. The Goldman Sachs Group reduced their price objective 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. Wall Street Zen lowered Kronos Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Barclays reduced their price objective on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th.
Check Out Our Latest Report on Kronos Worldwide
Kronos Worldwide Price Performance
Kronos Worldwide stock traded up $0.02 on Wednesday, reaching $6.63. The company's stock had a trading volume of 200,290 shares, compared to its average volume of 213,093. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 2.68. The company has a market cap of $762.69 million, a price-to-earnings ratio of 8.19 and a beta of 1.22. The business's fifty day moving average price is $7.06 and its 200 day moving average price is $8.62. Kronos Worldwide, Inc. has a twelve month low of $6.13 and a twelve month high of $14.37.
Kronos Worldwide (NYSE:KRO - Get Free Report) last released its earnings results 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 firm had revenue of $489.80 million for the quarter, compared to the consensus estimate of $466.56 million. Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%.
Kronos Worldwide Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be given a dividend of $0.05 per share. 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 3.02%. Kronos Worldwide's payout ratio is currently 24.10%.
Insider Transactions at Kronos Worldwide
In other news, Director Kevin B. Kramer bought 14,000 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was bought at an average price of $7.43 per share, for a total transaction of $104,020.00. Following the completion of the transaction, the director now directly owns 21,460 shares in the company, valued at $159,447.80. The trade was a 187.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.
Kronos Worldwide Company Profile
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Free Report)
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.
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