Squarepoint Ops LLC Lowers Holdings in Kronos Worldwide, Inc. (NYSE:KRO)

Squarepoint Ops LLC reduced its stake in shares of Kronos Worldwide, Inc. (NYSE:KRO) by 49.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 24,117 shares of the specialty chemicals company’s stock after selling 24,005 shares during the period. Squarepoint Ops LLC’s holdings in Kronos Worldwide were worth $303,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of KRO. Rhumbline Advisers raised its stake in Kronos Worldwide by 3.7% during the second quarter. Rhumbline Advisers now owns 32,817 shares of the specialty chemicals company’s stock worth $412,000 after purchasing an additional 1,162 shares during the period. Twelve Points Wealth Management LLC boosted its holdings in Kronos Worldwide by 4.1% in the second quarter. Twelve Points Wealth Management LLC now owns 35,388 shares of the specialty chemicals company’s stock valued at $444,000 after acquiring an additional 1,394 shares during the last quarter. Mirador Capital Partners LP grew its position in Kronos Worldwide by 3.0% during the second quarter. Mirador Capital Partners LP now owns 59,762 shares of the specialty chemicals company’s stock valued at $750,000 after acquiring an additional 1,767 shares during the period. Janney Montgomery Scott LLC increased its stake in Kronos Worldwide by 7.8% during the first quarter. Janney Montgomery Scott LLC now owns 37,950 shares of the specialty chemicals company’s stock worth $448,000 after acquiring an additional 2,736 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Kronos Worldwide by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,211,644 shares of the specialty chemicals company’s stock worth $26,097,000 after purchasing an additional 5,884 shares during the period. 15.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kronos Worldwide Stock Up 0.7 %

Shares of Kronos Worldwide stock opened at $12.19 on Friday. Kronos Worldwide, Inc. has a twelve month low of $6.20 and a twelve month high of $14.50. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 1,219.00 and a beta of 1.15. The company has a current ratio of 3.61, a quick ratio of 1.98 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average price of $11.39 and a 200 day moving average price of $12.10.

Kronos Worldwide (NYSE:KRO) last issued its earnings results on Wednesday, August 7th. The specialty chemicals company reported $0.17 earnings per share 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%. Equities research analysts forecast that Kronos Worldwide, Inc. will post 0.88 earnings per share for the current fiscal year.

Kronos Worldwide Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, September 6th. Kronos Worldwide’s dividend payout ratio (DPR) is 2,000.00%.

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.