Luminus Management LLC Makes New $2.54 Million Investment in Kronos Worldwide, Inc. (NYSE:KRO)

Luminus Management LLC purchased a new stake in shares of Kronos Worldwide, Inc. (NYSE:KRO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 260,300 shares of the specialty chemicals company's stock, valued at approximately $2,538,000. Kronos Worldwide comprises about 2.9% of Luminus Management LLC's investment portfolio, making the stock its 7th biggest position. Luminus Management LLC owned 0.23% of Kronos Worldwide as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in KRO. Lighthouse Investment Partners LLC bought a new stake in shares of Kronos Worldwide during the fourth quarter worth $98,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Kronos Worldwide by 0.4% during the 4th 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. Graham Capital Management L.P. boosted its holdings in shares of Kronos Worldwide by 142.2% during the 4th quarter. Graham Capital Management L.P. now owns 26,006 shares of the specialty chemicals company's stock valued at $254,000 after acquiring an additional 15,269 shares in the last quarter. Deutsche Bank AG grew its position in Kronos Worldwide by 59.2% during the 4th quarter. Deutsche Bank AG now owns 22,150 shares of the specialty chemicals company's stock worth $216,000 after acquiring an additional 8,234 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. acquired a new position in Kronos Worldwide in the 4th quarter worth about $257,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on KRO. The Goldman Sachs Group cut 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. StockNews.com upgraded shares of Kronos Worldwide from a "hold" rating to a "buy" rating in a research report on Tuesday, March 18th.

Insider Activity

In other news, Director Kevin B. Kramer purchased 14,000 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average cost of $7.43 per share, with a total value of $104,020.00. Following the purchase, the director now owns 21,460 shares in the company, valued at $159,447.80. This represents a 187.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.13% of the company's stock.

Kronos Worldwide Trading Down 2.8%

NYSE:KRO traded down $0.20 during trading hours on Thursday, hitting $6.97. 211,060 shares of the company were exchanged, compared to its average volume of 212,879. The stock has a market capitalization of $801.80 million, a price-to-earnings ratio of 8.60 and a beta of 1.22. Kronos Worldwide, Inc. has a one year low of $6.19 and a one year high of $14.50. The company has a fifty day simple moving average of $7.35 and a 200 day simple moving average of $9.13. The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be given a $0.05 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.87%. Kronos Worldwide's dividend payout ratio (DPR) is currently 24.10%.

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.