State Street Corp Has $8.36 Million Holdings in Kronos Worldwide Inc (KRO)
State Street Corp trimmed its stake in Kronos Worldwide Inc (NYSE:KRO) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 458,855 shares of the specialty chemicals company’s stock after selling 4,689 shares during the quarter. State Street Corp owned 0.40% of Kronos Worldwide worth $8,358,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Kronos Worldwide by 37.1% in the second quarter. Vanguard Group Inc. now owns 2,227,707 shares of the specialty chemicals company’s stock worth $40,589,000 after acquiring an additional 603,137 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kronos Worldwide by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,210,956 shares of the specialty chemicals company’s stock worth $22,063,000 after acquiring an additional 88,453 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Kronos Worldwide by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 1,150,834 shares of the specialty chemicals company’s stock worth $20,969,000 after acquiring an additional 9,792 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Kronos Worldwide by 7.8% in the second quarter. Advisors Asset Management Inc. now owns 941,607 shares of the specialty chemicals company’s stock worth $17,156,000 after acquiring an additional 67,849 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Kronos Worldwide by 9.6% in the second quarter. Renaissance Technologies LLC now owns 699,300 shares of the specialty chemicals company’s stock worth $12,741,000 after acquiring an additional 61,400 shares in the last quarter. 16.19% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on KRO shares. ValuEngine raised Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 27th. SunTrust Banks boosted their target price on Kronos Worldwide from $21.00 to $24.00 and gave the stock a “hold” rating in a report on Wednesday, October 11th. BidaskClub raised Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 3rd. Finally, Barclays boosted their target price on Kronos Worldwide from $17.00 to $24.00 and gave the stock an “underweight” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.00.
Shares of Kronos Worldwide Inc (NYSE:KRO) traded up $0.01 during trading hours on Wednesday, hitting $28.99. The stock had a trading volume of 447,700 shares, compared to its average volume of 484,799. The company has a market capitalization of $3,388.98, a P/E ratio of 20.03, a P/E/G ratio of 3.63 and a beta of 2.16. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.86 and a current ratio of 4.26. Kronos Worldwide Inc has a 1 year low of $11.12 and a 1 year high of $29.49.
Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings results on Wednesday, November 8th. The specialty chemicals company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.21. The firm had revenue of $464.50 million for the quarter, compared to the consensus estimate of $448.00 million. Kronos Worldwide had a return on equity of 31.38% and a net margin of 20.52%. The company’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. sell-side analysts expect that Kronos Worldwide Inc will post 1.61 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, December 5th. Kronos Worldwide’s payout ratio is currently 20.98%.
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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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