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

Kronos Worldwide, Inc. (NYSE:KRO) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 590,600 shares, an increase of 18.1% from the December 15th total of 499,900 shares. Based on an average trading volume of 173,900 shares, the days-to-cover ratio is presently 3.4 days. Approximately 2.7% of the shares of the company are sold short.

Institutional Investors Weigh In On Kronos Worldwide

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC raised its stake in Kronos Worldwide by 83.3% during the 3rd quarter. nVerses Capital LLC now owns 4,400 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 2,000 shares during the period. Quantbot Technologies LP bought a new stake in shares of Kronos Worldwide during the third quarter valued at approximately $67,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Kronos Worldwide by 1,086.7% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,600 shares of the specialty chemicals company’s stock valued at $120,000 after buying an additional 8,791 shares during the last quarter. Jade Capital Advisors LLC bought a new stake in shares of Kronos Worldwide during the third quarter valued at approximately $124,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Kronos Worldwide during the second quarter valued at approximately $131,000. Institutional investors own 15.11% of the company’s stock.

Kronos Worldwide Stock Performance

Shares of NYSE:KRO traded up $0.03 during trading on Friday, hitting $9.54. The company’s stock had a trading volume of 106,208 shares, compared to its average volume of 157,264. The company has a 50-day moving average of $10.29 and a 200-day moving average of $11.19. Kronos Worldwide has a 12 month low of $8.26 and a 12 month high of $14.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 11.77 and a beta of 1.16.

Kronos Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 29th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Friday, November 29th. Kronos Worldwide’s payout ratio is 24.69%.

Wall Street Analysts Forecast Growth

Separately, Barclays raised their price target on shares of Kronos Worldwide from $9.00 to $10.00 and gave the company an “underweight” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.00.

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.