Bank of New York Mellon Corp Has $6.07 Million Position in Kronos Worldwide, Inc. (NYSE:KRO)

Bank of New York Mellon Corp reduced its holdings in shares of Kronos Worldwide, Inc. (NYSE:KRO) by 23.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 622,273 shares of the specialty chemicals company’s stock after selling 187,536 shares during the period. Bank of New York Mellon Corp owned 0.54% of Kronos Worldwide worth $6,067,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Aigen Investment Management LP acquired a new position in Kronos Worldwide during the 3rd quarter valued at about $141,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Kronos Worldwide in the 3rd quarter worth approximately $264,000. Quest Partners LLC raised its holdings in shares of Kronos Worldwide by 522.7% in the 3rd quarter. Quest Partners LLC now owns 54,826 shares of the specialty chemicals company’s stock worth $683,000 after purchasing an additional 46,021 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Kronos Worldwide by 2.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,652 shares of the specialty chemicals company’s stock worth $2,237,000 after purchasing an additional 3,833 shares during the period. Finally, Algert Global LLC lifted its position in shares of Kronos Worldwide by 230.0% during the third quarter. Algert Global LLC now owns 69,215 shares of the specialty chemicals company’s stock worth $862,000 after acquiring an additional 48,240 shares in the last quarter. 15.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kronos Worldwide news, Director Kevin B. Kramer bought 14,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $7.43 per share, with a total value of $104,020.00. Following the completion of the purchase, the director now owns 21,460 shares of the company’s stock, valued at approximately $159,447.80. This trade represents a 187.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Kronos Worldwide from a “buy” rating to a “hold” rating in a research report on Monday, March 10th.

Kronos Worldwide Stock Up 3.1 %

KRO opened at $7.88 on Monday. The stock has a market cap of $905.91 million, a PE ratio of 9.72 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. Kronos Worldwide, Inc. has a 52 week low of $7.17 and a 52 week high of $14.50. The business’s fifty day simple moving average is $9.06 and its 200 day simple moving average is $10.45.

Kronos Worldwide (NYSE:KRO) last posted its quarterly earnings results on Thursday, March 6th. The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.31). Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%. The business had revenue of $423.10 million for the quarter, compared to analysts’ expectations of $494.19 million.

Kronos Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.54%. Kronos Worldwide’s dividend payout ratio is currently 27.03%.

About Kronos Worldwide

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.