Bank of New York Mellon Corp Increases Stake in Kronos Worldwide Inc. (KRO)
Bank of New York Mellon Corp boosted its position in Kronos Worldwide Inc. (NYSE:KRO) by 11.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,390,384 shares of the company’s stock after buying an additional 138,530 shares during the period. Bank of New York Mellon Corp owned 1.20% of Kronos Worldwide worth $7,299,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in KRO. BlackRock Group LTD boosted its position in Kronos Worldwide by 24.8% in the first quarter. BlackRock Group LTD now owns 21,590 shares of the company’s stock worth $123,000 after buying an additional 4,286 shares during the period. Kempen Capital Management N.V. boosted its position in Kronos Worldwide by 82.8% in the first quarter. Kempen Capital Management N.V. now owns 104,492 shares of the company’s stock worth $598,000 after buying an additional 47,323 shares during the period. Zebra Capital Management LLC boosted its position in Kronos Worldwide by 6.5% in the first quarter. Zebra Capital Management LLC now owns 127,709 shares of the company’s stock worth $730,000 after buying an additional 7,762 shares during the period. Geode Capital Management LLC boosted its position in Kronos Worldwide by 3.5% in the first quarter. Geode Capital Management LLC now owns 155,593 shares of the company’s stock worth $889,000 after buying an additional 5,229 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Kronos Worldwide during the first quarter worth about $1,452,000. Hedge funds and other institutional investors own 13.50% of the company’s stock.
Shares of Kronos Worldwide Inc. (NYSE:KRO) traded down 0.85% on Monday, reaching $8.18. 308,859 shares of the company were exchanged. The firm’s market capitalization is $948.01 million. The company’s 50 day moving average is $7.66 and its 200 day moving average is $6.32. Kronos Worldwide Inc. has a 12-month low of $3.94 and a 12-month high of $9.21.
Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $334 million. Kronos Worldwide had a negative net margin of 2.64% and a negative return on equity of 5.63%. The business’s revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) EPS. Analysts forecast that Kronos Worldwide Inc. will post $0.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Tuesday, September 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.33%. The ex-dividend date of this dividend was Thursday, September 1st. Kronos Worldwide’s payout ratio is -199.99%.
KRO has been the subject of several research analyst reports. Zacks Investment Research raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Monday, August 29th. TheStreet raised shares of Kronos Worldwide from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th.
About Kronos Worldwide
Kronos Worldwide, Inc is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products in approximately 100 countries with sales in Europe and North America.
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