Cubist Systematic Strategies LLC Sells 30,485 Shares of Kronos Worldwide, Inc. (NYSE:KRO)

Cubist Systematic Strategies LLC lowered its holdings in shares of Kronos Worldwide, Inc. (NYSE:KRO) by 76.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,474 shares of the specialty chemicals company’s stock after selling 30,485 shares during the period. Cubist Systematic Strategies LLC’s holdings in Kronos Worldwide were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of KRO. Los Angeles Capital Management LLC bought a new stake in shares of Kronos Worldwide in the 1st quarter worth approximately $960,000. Counterpoint Mutual Funds LLC bought a new stake in Kronos Worldwide in the first quarter worth $134,000. Mirador Capital Partners LP grew its stake in shares of Kronos Worldwide by 3.2% in the first quarter. Mirador Capital Partners LP now owns 57,995 shares of the specialty chemicals company’s stock worth $684,000 after acquiring an additional 1,825 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Kronos Worldwide by 661.7% during the first quarter. BNP Paribas Financial Markets now owns 40,606 shares of the specialty chemicals company’s stock valued at $479,000 after acquiring an additional 35,275 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of 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 valued at $448,000 after acquiring an additional 2,736 shares in the last quarter. Hedge funds and other institutional investors own 15.11% of the company’s stock.

Kronos Worldwide Stock Performance

KRO stock opened at $12.02 on Wednesday. The stock’s 50 day simple moving average is $11.46 and its 200 day simple moving average is $12.11. The company has a current ratio of 3.61, a quick ratio of 1.98 and a debt-to-equity ratio of 0.55. Kronos Worldwide, Inc. has a 12-month low of $6.20 and a 12-month high of $14.50. The stock has a market capitalization of $1.38 billion, a PE ratio of -52.26 and a beta of 1.15.

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

Wall Street Analysts Forecast Growth

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