Empowered Funds LLC Cuts Stake in Kronos Worldwide, Inc. (NYSE:KRO)

Empowered Funds LLC reduced its position in Kronos Worldwide, Inc. (NYSE:KRO - Free Report) by 75.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,788 shares of the specialty chemicals company's stock after selling 58,188 shares during the period. Empowered Funds LLC's holdings in Kronos Worldwide were worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. First Eagle Investment Management LLC increased its holdings in Kronos Worldwide by 136.6% during 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 buying an additional 208,256 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Kronos Worldwide during the 2nd quarter valued at $783,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Kronos Worldwide in the 3rd quarter worth $1,521,000. Jacobs Levy Equity Management Inc. bought a new position in Kronos Worldwide in the 1st quarter worth $209,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Kronos Worldwide during the second quarter valued at $131,000. Institutional investors own 15.11% of the company's stock.

Wall Street Analyst Weigh In

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

Kronos Worldwide Price Performance

Shares of KRO traded down $0.04 during mid-day trading on Wednesday, reaching $11.45. The stock had a trading volume of 176,763 shares, compared to its average volume of 220,120. The business has a fifty day moving average of $11.83 and a 200 day moving average of $12.09. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 2.68. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 14.12 and a beta of 1.16. Kronos Worldwide, Inc. has a 12 month low of $8.26 and a 12 month high of $14.50.

Kronos Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.75%. The ex-dividend date is Friday, November 29th. Kronos Worldwide's dividend payout ratio is currently 24.69%.

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.