Grantham Mayo Van Otterloo & Co. LLC lowered its position in Kronos Worldwide, Inc. (NYSE:KRO) by 41.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,500 shares of the specialty chemicals company’s stock after selling 17,300 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Kronos Worldwide were worth $375,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of KRO. Kempen Capital Management N.V. lifted its stake in Kronos Worldwide by 28.0% in the fourth quarter. Kempen Capital Management N.V. now owns 1,839,377 shares of the specialty chemicals company’s stock valued at $27,426,000 after buying an additional 402,783 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Kronos Worldwide during the first quarter worth approximately $5,536,000. BlackRock Inc. raised its stake in shares of Kronos Worldwide by 10.3% during the fourth quarter. BlackRock Inc. now owns 1,962,830 shares of the specialty chemicals company’s stock worth $29,268,000 after purchasing an additional 183,024 shares during the last quarter. Mirador Capital Partners LP raised its stake in shares of Kronos Worldwide by 223.6% during the first quarter. Mirador Capital Partners LP now owns 157,921 shares of the specialty chemicals company’s stock worth $2,416,000 after purchasing an additional 109,119 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Kronos Worldwide by 19.1% during the first quarter. First Trust Advisors LP now owns 271,865 shares of the specialty chemicals company’s stock worth $3,812,000 after purchasing an additional 43,569 shares during the last quarter. Institutional investors own 15.50% of the company’s stock.
Separately, Deutsche Bank Aktiengesellschaft upped their price target on Kronos Worldwide from $16.00 to $17.50 and gave the stock a “buy” rating in a research note on Friday, March 19th.
Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Wednesday, May 5th. The specialty chemicals company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.05). Kronos Worldwide had a return on equity of 7.06% and a net margin of 3.36%. The business had revenue of $465.00 million for the quarter, compared to analyst estimates of $458.57 million. Sell-side analysts expect that Kronos Worldwide, Inc. will post 0.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 17th. Investors of record on Monday, June 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date of this dividend was Friday, June 4th. Kronos Worldwide’s dividend payout ratio is presently 130.91%.
Kronos Worldwide Company 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.
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