Virginia Retirement Systems ET AL lessened its holdings in Kronos Worldwide Inc (NYSE:KRO) by 38.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 30,600 shares of the specialty chemicals company’s stock after selling 19,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in Kronos Worldwide were worth $692,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisor Group Inc. increased its stake in Kronos Worldwide by 285.0% in the 4th quarter. Advisor Group Inc. now owns 4,455 shares of the specialty chemicals company’s stock worth $115,000 after buying an additional 3,298 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Kronos Worldwide in the 4th quarter worth $204,000. Raymond James & Associates purchased a new stake in Kronos Worldwide in the 4th quarter worth $225,000. Investors Research Corp purchased a new stake in Kronos Worldwide in the 4th quarter worth $229,000. Finally, Stone Ridge Asset Management LLC purchased a new stake in Kronos Worldwide in the 4th quarter worth $233,000. Institutional investors and hedge funds own 16.94% of the company’s stock.
A number of equities research analysts have issued reports on KRO shares. Zacks Investment Research lowered Kronos Worldwide from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. ValuEngine upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $24.67.
Kronos Worldwide (NYSE:KRO) last released its quarterly earnings data on Monday, March 12th. The specialty chemicals company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.49 by $0.35. Kronos Worldwide had a net margin of 21.70% and a return on equity of 38.70%. The business had revenue of $453.30 million during the quarter, compared to the consensus estimate of $421.00 million. sell-side analysts forecast that Kronos Worldwide Inc will post 2.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Tuesday, June 5th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, June 4th. Kronos Worldwide’s dividend payout ratio (DPR) is presently 36.17%.
About Kronos Worldwide
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, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.
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