CIBC World Markets Inc. lifted its stake in Kronos Worldwide Inc (NYSE:KRO) by 573.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,172 shares of the specialty chemicals company’s stock after purchasing an additional 104,028 shares during the period. CIBC World Markets Inc. owned 0.11% of Kronos Worldwide worth $2,226,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of KRO. Laurion Capital Management LP acquired a new stake in shares of Kronos Worldwide in the first quarter valued at approximately $166,000. Strs Ohio acquired a new stake in shares of Kronos Worldwide in the second quarter valued at approximately $198,000. American International Group Inc. increased its holdings in shares of Kronos Worldwide by 7.1% in the first quarter. American International Group Inc. now owns 13,550 shares of the specialty chemicals company’s stock valued at $223,000 after purchasing an additional 894 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Kronos Worldwide by 10.0% in the first quarter. Nationwide Fund Advisors now owns 14,573 shares of the specialty chemicals company’s stock valued at $239,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Turner Investments LLC acquired a new stake in shares of Kronos Worldwide in the first quarter valued at approximately $246,000. 15.42% of the stock is owned by institutional investors and hedge funds.
Shares of Kronos Worldwide Inc (NYSE KRO) opened at 21.73 on Tuesday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of 9.04 and a beta of 2.11. Kronos Worldwide Inc has a 12-month low of $7.27 and a 12-month high of $21.89. The firm’s 50-day moving average is $20.12 and its 200-day moving average is $18.00.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, August 31st. Kronos Worldwide’s payout ratio is currently 24.90%.
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A number of analysts recently weighed in on KRO shares. BidaskClub raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. ValuEngine raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Barclays PLC raised their price target on shares of Kronos Worldwide from $15.00 to $17.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, one has given a hold rating, one has assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.50.
In other news, insider Benjiman R. Corona sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $18.35, for a total transaction of $36,700.00. Following the completion of the transaction, the insider now owns 500 shares of the company’s stock, valued at $9,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by company insiders.
About Kronos Worldwide
Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.
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