Kronos Worldwide, Inc. (KRO) Position Increased by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. increased its holdings in shares of Kronos Worldwide, Inc. (NYSE:KRO) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the specialty chemicals company’s stock after purchasing an additional 4,400 shares during the quarter. Cornerstone Capital Management Holdings LLC.’s holdings in Kronos Worldwide were worth $455,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Macquarie Group Ltd. purchased a new position in shares of Kronos Worldwide in the 3rd quarter valued at about $114,000. Strs Ohio acquired a new stake in shares of Kronos Worldwide during the 2nd quarter worth about $198,000. Zacks Investment Management acquired a new stake in shares of Kronos Worldwide during the 2nd quarter worth about $207,000. Winslow Evans & Crocker Inc. acquired a new stake in shares of Kronos Worldwide during the 3rd quarter worth about $208,000. Finally, AMP Capital Investors Ltd acquired a new stake in shares of Kronos Worldwide during the 3rd quarter worth about $226,000. 16.17% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on KRO shares. ValuEngine lowered Kronos Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks raised their target price on Kronos Worldwide from $21.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Zacks Investment Research lowered Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Barclays lifted their price target on Kronos Worldwide from $17.00 to $24.00 and gave the stock an “underweight” rating in a research report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Kronos Worldwide currently has a consensus rating of “Hold” and a consensus price target of $24.00.
Kronos Worldwide (NYSE:KRO) last released its earnings results on Wednesday, November 8th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.21. The business had revenue of $464.50 million for the quarter, compared to analyst estimates of $448.00 million. Kronos Worldwide had a return on equity of 31.38% and a net margin of 20.52%. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. equities analysts expect that Kronos Worldwide, Inc. will post 1.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, December 6th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Tuesday, December 5th. Kronos Worldwide’s payout ratio is currently 21.05%.
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About Kronos Worldwide
Kronos Worldwide, Inc (Kronos) 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 with sales in Europe and North America.
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