Kronos Worldwide, Inc. (NYSE:KRO) Sees Large Growth in Short Interest

Kronos Worldwide, Inc. (NYSE:KRO) was the target of a significant increase in short interest during the month of August. As of August 15th, there was short interest totalling 1,120,000 shares, an increase of 10.9% from the July 31st total of 1,010,000 shares. Based on an average daily volume of 270,400 shares, the days-to-cover ratio is currently 4.1 days. Currently, 5.2% of the shares of the stock are sold short.

Kronos Worldwide Stock Performance

Shares of KRO stock opened at $11.56 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.98 and a current ratio of 3.61. Kronos Worldwide has a fifty-two week low of $6.16 and a fifty-two week high of $14.50. The company has a market capitalization of $1.33 billion, a P/E ratio of -50.26 and a beta of 1.19. The stock has a 50 day moving average price of $11.76 and a two-hundred day moving average price of $11.80.

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

Kronos Worldwide Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders 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 1.73%. Kronos Worldwide’s dividend payout ratio is currently -330.42%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. First Eagle Investment Management LLC bought a new stake in Kronos Worldwide in the first quarter valued at $1,799,000. Los Angeles Capital Management LLC purchased a new position in shares of Kronos Worldwide during the first quarter valued at about $960,000. Mirador Capital Partners LP raised its stake in 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 buying an additional 1,825 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Kronos Worldwide in the first quarter worth about $209,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Kronos Worldwide by 2.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,801,767 shares of the specialty chemicals company’s stock worth $27,851,000 after buying an additional 66,081 shares during the period. Hedge funds and other institutional investors own 15.11% of the company’s stock.

Analysts Set New Price Targets

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