Kronos Worldwide, Inc. (NYSE:KRO) Sees Significant Decrease in Short Interest

Kronos Worldwide, Inc. (NYSE:KRO) saw a significant decrease in short interest in May. As of May 15th, there was short interest totalling 903,900 shares, a decrease of 12.2% from the April 30th total of 1,030,000 shares. Based on an average daily volume of 240,100 shares, the days-to-cover ratio is currently 3.8 days. Approximately 4.2% of the shares of the stock are short sold.

Kronos Worldwide Price Performance

Shares of Kronos Worldwide stock opened at $6.48 on Friday. The business has a 50 day simple moving average of $7.02 and a two-hundred day simple moving average of $8.57. Kronos Worldwide has a 12 month low of $6.13 and a 12 month high of $14.37. The stock has a market capitalization of $745.20 million, a P/E ratio of 8.00 and a beta of 1.22. 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 (NYSE:KRO) last announced its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $489.80 million for the quarter, compared to analyst estimates of $466.56 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Kronos Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be given 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 3.09%. Kronos Worldwide’s dividend payout ratio (DPR) is presently 24.10%.

Insiders Place Their Bets

In other news, Director Kevin B. Kramer bought 14,000 shares of Kronos Worldwide stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $7.43 per share, with a total value of $104,020.00. Following the completion of the acquisition, the director now directly owns 21,460 shares of the company’s stock, valued at $159,447.80. The trade was a 187.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kronos Worldwide

A number of large investors have recently made changes to their positions in KRO. Rhumbline Advisers grew its position in shares of Kronos Worldwide by 8.7% in the fourth quarter. Rhumbline Advisers now owns 34,948 shares of the specialty chemicals company’s stock valued at $341,000 after purchasing an additional 2,800 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Kronos Worldwide in the fourth quarter valued at approximately $180,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Kronos Worldwide in the fourth quarter valued at approximately $233,000. Charles Schwab Investment Management Inc. grew its position in shares of Kronos Worldwide by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 183,568 shares of the specialty chemicals company’s stock valued at $1,790,000 after purchasing an additional 3,916 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in shares of Kronos Worldwide by 2.1% in the fourth quarter. First Eagle Investment Management LLC now owns 489,177 shares of the specialty chemicals company’s stock valued at $4,769,000 after purchasing an additional 10,000 shares in the last quarter. 15.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays reduced their target price on Kronos Worldwide from $10.00 to $7.00 and set an “underweight” rating for the company in a report on Wednesday, May 28th. The Goldman Sachs Group reduced their target price on Kronos Worldwide from $11.00 to $8.50 and set a “sell” rating for the company in a report on Wednesday, May 14th. Finally, Wall Street Zen cut Kronos Worldwide from a “buy” rating to a “hold” rating in a report on Thursday, May 15th.

About Kronos Worldwide

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.