Kronos Worldwide, Inc. (NYSE:KRO) Sees Large Decline in Short Interest

Kronos Worldwide, Inc. (NYSE:KRO - Get Free Report) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 903,900 shares, a decline of 12.2% from the April 30th total of 1,030,000 shares. Based on an average daily trading volume, of 240,100 shares, the short-interest ratio is presently 3.8 days. Currently, 4.2% of the company's stock are sold short.

Kronos Worldwide Stock Down 2.1%

KRO stock traded down $0.14 during trading on Thursday, reaching $6.48. The stock had a trading volume of 263,904 shares, compared to its average volume of 213,645. The company has a market capitalization of $745.20 million, a price-to-earnings ratio of 8.00 and a beta of 1.22. The company's 50 day moving average is $7.02 and its two-hundred day moving average is $8.57. The company has a quick ratio of 1.30, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. Kronos Worldwide has a one year low of $6.13 and a one year high of $14.37.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly 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). 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend is Monday, June 9th. Kronos Worldwide's dividend payout ratio (DPR) is currently 24.10%.

Insider Activity at Kronos Worldwide

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

Institutional Investors Weigh In On Kronos Worldwide

A number of hedge funds and other institutional investors have recently modified their holdings of KRO. State of Wyoming raised its position in Kronos Worldwide by 28.1% during the 4th quarter. State of Wyoming now owns 5,031 shares of the specialty chemicals company's stock valued at $49,000 after purchasing an additional 1,105 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Kronos Worldwide by 0.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 315,992 shares of the specialty chemicals company's stock valued at $3,081,000 after acquiring an additional 1,130 shares in the last quarter. 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 valued at $31,000 after acquiring an additional 1,883 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Kronos Worldwide during the fourth quarter valued at approximately $25,000. Finally, Rhumbline Advisers raised its holdings in shares of Kronos Worldwide by 8.7% during the fourth quarter. Rhumbline Advisers now owns 34,948 shares of the specialty chemicals company's stock valued at $341,000 after acquiring an additional 2,800 shares in the last quarter. Institutional investors own 15.11% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on KRO. Wall Street Zen downgraded Kronos Worldwide from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Barclays decreased their price target on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group reduced their target price on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a research note on Wednesday, May 14th.

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.