Edgestream Partners L.P. Acquires New Shares in Kronos Worldwide, Inc. (NYSE:KRO)

Edgestream Partners L.P. acquired a new stake in Kronos Worldwide, Inc. (NYSE:KRO) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 226,811 shares of the specialty chemicals company’s stock, valued at approximately $2,824,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Eagle Investment Management LLC increased its holdings in Kronos Worldwide by 136.6% in the second quarter. First Eagle Investment Management LLC now owns 360,677 shares of the specialty chemicals company’s stock valued at $4,526,000 after purchasing an additional 208,256 shares during the last quarter. AQR Capital Management LLC bought a new stake in Kronos Worldwide in the second quarter valued at about $783,000. Allspring Global Investments Holdings LLC bought a new stake in Kronos Worldwide in the third quarter valued at about $1,521,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Kronos Worldwide in the first quarter worth about $209,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Kronos Worldwide in the second quarter worth about $131,000. Institutional investors own 15.11% of the company’s stock.

Kronos Worldwide Stock Down 1.3 %

Shares of Kronos Worldwide stock opened at $11.31 on Monday. Kronos Worldwide, Inc. has a 1 year low of $8.26 and a 1 year high of $14.50. The business has a 50-day moving average of $11.83 and a two-hundred day moving average of $12.06. The company has a market capitalization of $1.30 billion, a P/E ratio of 13.96 and a beta of 1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30.

Kronos Worldwide Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.77%. Kronos Worldwide’s payout ratio is presently 24.69%.

Wall Street Analysts Forecast Growth

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

Kronos Worldwide Company 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.