Bank of New York Mellon Corp Sells 187,536 Shares of Kronos Worldwide, Inc. (NYSE:KRO)

Bank of New York Mellon Corp reduced its stake in Kronos Worldwide, Inc. (NYSE:KRO) by 23.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 622,273 shares of the specialty chemicals company’s stock after selling 187,536 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kronos Worldwide were worth $6,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KRO. Quantbot Technologies LP bought a new stake in shares of Kronos Worldwide in the 3rd quarter worth about $67,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Kronos Worldwide by 1,086.7% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,600 shares of the specialty chemicals company’s stock worth $120,000 after purchasing an additional 8,791 shares during the period. Centiva Capital LP purchased a new stake in shares of Kronos Worldwide in the 3rd quarter worth approximately $138,000. Aigen Investment Management LP purchased a new stake in shares of Kronos Worldwide in the 3rd quarter worth approximately $141,000. Finally, Allworth Financial LP purchased a new stake in shares of Kronos Worldwide in the 4th quarter worth approximately $180,000. 15.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kronos Worldwide news, Director Kevin B. Kramer purchased 14,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost 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 in the company, valued at approximately $159,447.80. This represents a 187.67 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Kronos Worldwide Trading Up 3.1 %

Shares of Kronos Worldwide stock opened at $7.88 on Monday. The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. Kronos Worldwide, Inc. has a 12-month low of $7.17 and a 12-month high of $14.50. The firm has a market capitalization of $905.91 million, a price-to-earnings ratio of 9.72 and a beta of 1.16. The firm’s 50 day simple moving average is $9.06 and its two-hundred day simple moving average is $10.45.

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

Kronos Worldwide Announces Dividend

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