Short Interest in Kronos Worldwide, Inc. (NYSE:KRO) Grows By 34.4%

Kronos Worldwide, Inc. (NYSE:KRO) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 5,940,000 shares, a growth of 34.4% from the December 31st total of 4,420,000 shares. Based on an average daily trading volume, of 342,600 shares, the days-to-cover ratio is presently 17.3 days. Approximately 26.9% of the company’s shares are short sold.

Hedge funds have recently added to or reduced their stakes in the business. CENTRAL TRUST Co bought a new position in Kronos Worldwide during the 4th quarter worth about $37,000. Cubist Systematic Strategies LLC increased its holdings in Kronos Worldwide by 40,773.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 12,262 shares of the specialty chemicals company’s stock worth $188,000 after purchasing an additional 12,232 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Kronos Worldwide by 97.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 27,600 shares of the specialty chemicals company’s stock worth $341,000 after purchasing an additional 13,600 shares in the last quarter. Paloma Partners Management Co bought a new position in Kronos Worldwide during the 2nd quarter worth about $341,000. Finally, Man Group plc bought a new position in Kronos Worldwide during the 2nd quarter worth about $382,000. Hedge funds and other institutional investors own 19.43% of the company’s stock.

KRO stock traded up $0.20 during trading hours on Tuesday, reaching $11.40. 262,427 shares of the stock were exchanged, compared to its average volume of 314,864. The firm’s 50-day moving average is $12.89 and its 200-day moving average is $12.58. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 12.95 and a beta of 2.05. The company has a debt-to-equity ratio of 0.61, a current ratio of 5.22 and a quick ratio of 3.31. Kronos Worldwide has a 12 month low of $9.65 and a 12 month high of $16.13.

Kronos Worldwide (NYSE:KRO) last released its earnings results on Thursday, November 7th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). The firm had revenue of $437.40 million for the quarter, compared to the consensus estimate of $427.54 million. Kronos Worldwide had a return on equity of 11.94% and a net margin of 5.95%. Kronos Worldwide’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. As a group, equities research analysts forecast that Kronos Worldwide will post 0.77 earnings per share for the current year.

Several analysts recently commented on the company. SunTrust Banks dropped their price objective on Kronos Worldwide from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Zacks Investment Research upgraded Kronos Worldwide from a “strong sell” rating to a “hold” rating and set a $11.00 target price for the company in a report on Tuesday, January 14th. Finally, Barclays reiterated a “sell” rating and set a $12.00 target price on shares of Kronos Worldwide in a report on Thursday, December 19th.

Kronos Worldwide Company Profile

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, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.

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