First Eagle Investment Management LLC Increases Holdings in Kronos Worldwide, Inc. (NYSE:KRO)

First Eagle Investment Management LLC raised its stake in shares of Kronos Worldwide, Inc. (NYSE:KRO) by 136.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,677 shares of the specialty chemicals company’s stock after buying an additional 208,256 shares during the quarter. First Eagle Investment Management LLC owned about 0.31% of Kronos Worldwide worth $4,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of KRO. Dimensional Fund Advisors LP boosted its position in shares of Kronos Worldwide by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,937,071 shares of the specialty chemicals company’s stock worth $36,860,000 after acquiring an additional 103,988 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Kronos Worldwide in the 1st quarter worth $960,000. American Century Companies Inc. boosted its holdings in shares of Kronos Worldwide by 25.9% during the 2nd quarter. American Century Companies Inc. now owns 187,944 shares of the specialty chemicals company’s stock valued at $2,359,000 after purchasing an additional 38,647 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Kronos Worldwide by 661.7% during the first quarter. BNP Paribas Financial Markets now owns 40,606 shares of the specialty chemicals company’s stock valued at $479,000 after purchasing an additional 35,275 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Kronos Worldwide in the first quarter worth about $209,000. Institutional investors own 15.11% of the company’s stock.

Kronos Worldwide Stock Performance

Shares of NYSE:KRO opened at $11.34 on Friday. The firm has a fifty day simple moving average of $11.34 and a two-hundred day simple moving average of $11.96. Kronos Worldwide, Inc. has a 52 week low of $6.16 and a 52 week high of $14.50. The company has a quick ratio of 1.98, a current ratio of 3.61 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.30 billion, a P/E ratio of -49.30 and a beta of 1.15.

Kronos Worldwide (NYSE:KRO) last released its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.04). The company had revenue of $500.50 million during the quarter, compared to analysts’ expectations of $504.19 million. Kronos Worldwide had a return on equity of 0.24% and a net margin of 0.11%. On average, analysts expect that Kronos Worldwide, Inc. will post 0.88 earnings per share for the current fiscal year.

Kronos Worldwide Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 6th. This represents a $0.20 annualized dividend and a yield of 1.76%. Kronos Worldwide’s payout ratio is presently -86.96%.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft raised their price target on Kronos Worldwide from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Kronos Worldwide currently has an average rating of “Hold” and a consensus target price of $11.67.

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.