Wells Fargo & Company MN decreased its position in Kronos Worldwide, Inc. (NYSE:KRO) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,984 shares of the specialty chemicals company’s stock after selling 28,456 shares during the quarter. Wells Fargo & Company MN owned approximately 0.23% of Kronos Worldwide worth $5,921,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of KRO. SG Americas Securities LLC purchased a new position in shares of Kronos Worldwide in the 4th quarter worth about $302,000. American Century Companies Inc. purchased a new position in shares of Kronos Worldwide in the 4th quarter worth about $766,000. Teacher Retirement System of Texas purchased a new position in shares of Kronos Worldwide in the 4th quarter worth about $204,000. BlackRock Inc. boosted its holdings in shares of Kronos Worldwide by 8.6% in the 4th quarter. BlackRock Inc. now owns 1,459,953 shares of the specialty chemicals company’s stock worth $37,623,000 after buying an additional 115,654 shares during the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Kronos Worldwide in the 4th quarter worth about $453,000. 17.18% of the stock is currently owned by institutional investors.
A number of brokerages recently weighed in on KRO. Deutsche Bank raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating and boosted their price target for the stock from $8.00 to $28.00 in a report on Wednesday, May 23rd. Zacks Investment Research downgraded shares of Kronos Worldwide from a “buy” rating to a “sell” rating in a report on Wednesday, May 16th. Finally, ValuEngine downgraded shares of Kronos Worldwide from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $25.50.
Kronos Worldwide (NYSE:KRO) last released its quarterly earnings data on Tuesday, May 8th. The specialty chemicals company reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). The business had revenue of $430.40 million for the quarter, compared to analysts’ expectations of $474.71 million. Kronos Worldwide had a net margin of 21.70% and a return on equity of 38.70%. Kronos Worldwide’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. analysts anticipate that Kronos Worldwide, Inc. will post 2.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Tuesday, June 5th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend was Monday, June 4th. Kronos Worldwide’s dividend payout ratio (DPR) is presently 36.17%.
About Kronos Worldwide
Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. It produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.
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