Bank of New York Mellon Corp increased its holdings in shares of Kronos Worldwide Inc (NYSE:KRO) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,150,834 shares of the specialty chemicals company’s stock after acquiring an additional 9,792 shares during the quarter. Bank of New York Mellon Corp owned about 0.99% of Kronos Worldwide worth $20,969,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of KRO. Laurion Capital Management LP acquired a new position in Kronos Worldwide during the first quarter worth about $166,000. Strs Ohio purchased a new position in Kronos Worldwide during the second quarter worth about $198,000. American International Group Inc. raised its stake in Kronos Worldwide by 7.1% during the first quarter. American International Group Inc. now owns 13,550 shares of the specialty chemicals company’s stock worth $223,000 after purchasing an additional 894 shares during the period. Nationwide Fund Advisors raised its stake in Kronos Worldwide by 10.0% during the first quarter. Nationwide Fund Advisors now owns 14,573 shares of the specialty chemicals company’s stock worth $239,000 after purchasing an additional 1,326 shares during the period. Finally, Turner Investments LLC purchased a new position in Kronos Worldwide during the first quarter worth about $246,000. Hedge funds and other institutional investors own 15.42% of the company’s stock.
A number of equities analysts have commented on the stock. ValuEngine raised shares of Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Barclays PLC lifted their target price on shares of Kronos Worldwide from $15.00 to $17.00 and gave the stock an “underweight” rating in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $24.00 target price on the stock in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. Kronos Worldwide has an average rating of “Buy” and an average price target of $20.50.
In other news, insider Benjiman R. Corona sold 2,000 shares of Kronos Worldwide stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $18.35, for a total transaction of $36,700.00. Following the sale, the insider now owns 500 shares in the company, valued at $9,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.08% of the company’s stock.
Shares of Kronos Worldwide Inc (NYSE:KRO) opened at 21.75 on Friday. Kronos Worldwide Inc has a 1-year low of $7.27 and a 1-year high of $22.30. The stock has a 50 day moving average of $20.27 and a 200-day moving average of $18.19. The stock has a market capitalization of $2.52 billion, a P/E ratio of 9.04 and a beta of 2.11.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.76%. Kronos Worldwide’s dividend payout ratio is currently 24.90%.
Kronos Worldwide Company Profile
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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