Sherbrooke Park Advisers LLC Reduces Position in Kronos Worldwide, Inc. (NYSE:KRO)

Sherbrooke Park Advisers LLC reduced its stake in Kronos Worldwide, Inc. (NYSE:KRO) by 65.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,150 shares of the specialty chemicals company’s stock after selling 43,116 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Kronos Worldwide were worth $226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Federated Hermes Inc. purchased a new position in shares of Kronos Worldwide in the 4th quarter valued at approximately $25,000. KLP Kapitalforvaltning AS purchased a new position in shares of Kronos Worldwide in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC grew its stake in shares of Kronos Worldwide by 144.8% in the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 1,883 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of Kronos Worldwide in the 4th quarter valued at approximately $54,000. Finally, Lighthouse Investment Partners LLC purchased a new position in shares of Kronos Worldwide in the 4th quarter valued at approximately $98,000. 15.11% of the stock is currently owned by hedge funds and other institutional investors.

Kronos Worldwide Stock Down 2.0%

Kronos Worldwide stock opened at $6.91 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30. Kronos Worldwide, Inc. has a 1-year low of $6.19 and a 1-year high of $14.50. The company has a market cap of $794.90 million, a PE ratio of 8.53 and a beta of 1.22. The stock’s 50 day moving average price is $7.31 and its 200 day moving average price is $8.98.

Kronos Worldwide (NYSE:KRO) last posted its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%. The business had revenue of $489.80 million during the quarter, compared to analysts’ expectations of $466.56 million.

Kronos Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Monday, June 9th will be paid 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 2.89%. Kronos Worldwide’s dividend payout ratio (DPR) is presently 24.10%.

Insider Activity at Kronos Worldwide

In other Kronos Worldwide news, Director Kevin B. Kramer purchased 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $7.43 per share, for a total transaction of $104,020.00. Following the completion of the purchase, the director now directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Kronos Worldwide from $11.00 to $8.50 and set a “sell” rating on the stock in a research note on Wednesday, May 14th. StockNews.com downgraded Kronos Worldwide from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th.

Kronos Worldwide 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.