Kronos Worldwide, Inc. (NYSE:KRO) Sees Significant Increase in Short Interest

Kronos Worldwide, Inc. (NYSE:KRO) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,060,000 shares, a growth of 17.5% from the August 31st total of 902,500 shares. Based on an average trading volume of 261,800 shares, the days-to-cover ratio is presently 4.0 days. Currently, 4.9% of the shares of the company are short sold.

Kronos Worldwide Stock Performance

Shares of NYSE:KRO traded down $0.04 during mid-day trading on Monday, reaching $12.41. 9,174 shares of the company traded hands, compared to its average volume of 236,768. Kronos Worldwide has a 52 week low of $6.16 and a 52 week high of $14.50. The firm has a market cap of $1.43 billion, a PE ratio of -54.13 and a beta of 1.15. The company’s 50 day moving average price is $11.32 and its 200-day moving average price is $12.07. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.61 and a quick ratio of 1.98.

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

Kronos Worldwide Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were paid a $0.05 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.20 dividend on an annualized basis and a yield of 1.61%. Kronos Worldwide’s payout ratio is presently -86.96%.

Hedge Funds Weigh In On Kronos Worldwide

Several large investors have recently made changes to their positions in the business. Quest Partners LLC raised its stake in Kronos Worldwide by 9,905.7% during the 2nd quarter. Quest Partners LLC now owns 8,805 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 8,717 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Kronos Worldwide during the second quarter valued at approximately $131,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Kronos Worldwide in the first quarter worth $134,000. XTX Topco Ltd bought a new position in shares of Kronos Worldwide during the second quarter worth $175,000. Finally, Sei Investments Co. purchased a new position in Kronos Worldwide during the second quarter valued at $184,000. 15.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays upped their price objective on Kronos Worldwide from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.