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

Kronos Worldwide, Inc. (NYSE:KRO) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 851,900 shares, a growth of 13.2% from the June 30th total of 752,300 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average daily volume of 235,600 shares, the days-to-cover ratio is currently 3.6 days.

Hedge Funds Weigh In On Kronos Worldwide

A number of large investors have recently modified their holdings of KRO. First Eagle Investment Management LLC purchased a new position in shares of Kronos Worldwide during the 1st quarter valued at about $1,799,000. Los Angeles Capital Management LLC purchased a new position in shares of Kronos Worldwide during the 1st quarter valued at about $960,000. Dimensional Fund Advisors LP raised its holdings in shares of Kronos Worldwide by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,801,767 shares of the specialty chemicals company’s stock valued at $27,851,000 after buying an additional 66,081 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Kronos Worldwide by 661.7% during the 1st quarter. BNP Paribas Financial Markets now owns 40,606 shares of the specialty chemicals company’s stock valued at $479,000 after buying an additional 35,275 shares in the last quarter. Finally, Semanteon Capital Management LP purchased a new position in shares of Kronos Worldwide during the 4th quarter valued at about $228,000. 15.11% of the stock is owned by hedge funds and other institutional investors.

Kronos Worldwide Price Performance

Shares of NYSE:KRO remained flat at $12.05 on Monday. The company’s stock had a trading volume of 316,162 shares, compared to its average volume of 245,857. The firm’s 50-day moving average price is $12.96 and its 200-day moving average price is $11.42. Kronos Worldwide has a 1 year low of $6.16 and a 1 year high of $14.50. The stock has a market cap of $1.39 billion, a P/E ratio of -52.13 and a beta of 1.19. The company has a quick ratio of 1.90, a current ratio of 3.68 and a debt-to-equity ratio of 0.58.

Kronos Worldwide (NYSE:KRO) last released its quarterly earnings results on Wednesday, May 8th. The specialty chemicals company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Kronos Worldwide had a negative return on equity of 3.13% and a negative net margin of 1.50%. The firm had revenue of $478.80 million for the quarter, compared to analysts’ expectations of $454.64 million. On average, equities research analysts expect that Kronos Worldwide will post 0.96 earnings per share for the current fiscal year.

Kronos Worldwide Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Friday, September 6th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, September 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.66%. Kronos Worldwide’s dividend payout ratio is -86.96%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KRO shares. The Goldman Sachs Group upped their price objective on Kronos Worldwide from $9.00 to $11.00 and gave the company a “sell” rating in a research note on Thursday, May 16th. Barclays increased their price target on Kronos Worldwide from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 15th. StockNews.com upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Kronos Worldwide from $12.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kronos Worldwide currently has a consensus rating of “Hold” and an average price target of $11.67.

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.