JPMorgan Chase & Co. Lowers Stake in Kronos Worldwide, Inc. (NYSE:KRO)

JPMorgan Chase & Co. decreased its holdings in Kronos Worldwide, Inc. (NYSE:KRO) by 36.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,827 shares of the specialty chemicals company’s stock after selling 21,788 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kronos Worldwide were worth $471,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. AQR Capital Management LLC acquired a new stake in shares of Kronos Worldwide in the second quarter valued at about $783,000. Allspring Global Investments Holdings LLC acquired a new stake in Kronos Worldwide in the 3rd quarter worth about $1,521,000. Barclays PLC increased its stake in Kronos Worldwide by 329.5% during the 3rd quarter. Barclays PLC now owns 33,695 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 25,849 shares in the last quarter. Algert Global LLC increased its stake in Kronos Worldwide by 230.0% during the 3rd quarter. Algert Global LLC now owns 69,215 shares of the specialty chemicals company’s stock worth $862,000 after buying an additional 48,240 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Kronos Worldwide during the second quarter valued at approximately $131,000. Hedge funds and other institutional investors own 15.11% of the company’s stock.

Kronos Worldwide Trading Down 2.2 %

KRO opened at $9.73 on Wednesday. Kronos Worldwide, Inc. has a 1-year low of $8.26 and a 1-year high of $14.50. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 12.01 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30. The company’s 50 day simple moving average is $10.06 and its two-hundred day simple moving average is $11.04.

Kronos Worldwide (NYSE:KRO) last issued its earnings results on Wednesday, November 6th. The specialty chemicals company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.28. The company had revenue of $484.70 million for the quarter, compared to the consensus estimate of $588.59 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Analyst Ratings Changes

Separately, StockNews.com cut Kronos Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

Kronos Worldwide 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.