Federated Hermes Inc., a leading investment management firm, has made significant changes to its holdings in Kronos Worldwide, Inc. (NYSE:KRO). According to the company’s most recent 13F filing with the Securities & Exchange Commission, Federated Hermes Inc. has reduced its position in Kronos Worldwide by 65.9% during the first quarter of this year.
The filing reveals that Federated Hermes Inc. sold 199,437 shares of Kronos Worldwide’s stock, leaving them with a remaining ownership of 103,060 shares. This translates to a decrease from their previous stake in the specialty chemicals company. As of the filing date, Federated Hermes Inc.’s ownership represented approximately 0.09% of the total worth of Kronos Worldwide, which amounts to $949,000.
This move by Federated Hermes Inc. has attracted attention from various market analysts who have closely scrutinized Kronos Worldwide’s performance and provided their assessments accordingly. Deutsche Bank Aktiengesellschaft released a report reducing their price target for the company’s shares from $12.00 to $11.00 on May 22nd. Similarly, StockNews.com downgraded Kronos Worldwide from a “hold” rating to a “sell” rating on Wednesday. Furthermore, Barclays also adjusted their price target downwards from $8.00 to $7.00 on May 14th.
These reports reflect varying opinions within the analyst community regarding Kronos Worldwide’s prospects and valuation. While three investment analysts have given the stock a sell rating, one analyst sees potential and has assigned a buy rating to it. Taking into account analysis derived from Bloomberg data, it is evident that there is currently a consensus among analysts to hold onto Kronos Worldwide’s stock with an average target price of $9.00.
In addition to these evaluations by market analysts, it is noteworthy that Kronos Worldwide recently declared its quarterly dividend payment. According to the announcement, shareholders of record on September 1st will receive a dividend of $0.19 per share on September 14th. The ex-dividend date has been set for August 31st. With an annualized dividend of $0.76 and a dividend yield of 8.87%, Kronos Worldwide aims to reward its shareholders with consistent returns.
In conclusion, Federated Hermes Inc.’s recent reduction in their position within Kronos Worldwide has sparked interest among market analysts, resulting in varying recommendations for potential investors. While some analysts suggest selling the stock, others see value in holding onto it. Investors should consider these evaluations alongside Kronos Worldwide’s recent declaration of a quarterly dividend in order to make informed decisions regarding their investment activities.
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Ownership Changes and Insider Activity Signal Promise for Kronos Worldwide
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”KRO” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Kronos Worldwide, a specialty chemicals company, has recently seen changes in its ownership by various institutional investors and hedge funds. Quadrant Capital Group LLC, for instance, increased its holdings in Kronos Worldwide by 79.6% during the fourth quarter, now owning 2,890 shares of the company’s stock worth $27,000. Similarly, Parallel Advisors LLC saw a significant increase of 558.9% in its holdings during the same period, now owning 4,296 shares valued at $40,000.
Royal Bank of Canada also experienced a noteworthy increase of 214.1% in its holdings during the third quarter. The bank now possesses 5,120 shares valued at $48,000. Citigroup Inc., on the other hand, increased its holdings by 129.2% in the fourth quarter and currently owns 5,686 shares worth $53,000. Barclays PLC concluded the list of institutional investors with a remarkable increase of 348.2%, resulting in ownership of 6,449 shares valued at $60,000.
These transactions highlight the interest that institutional investors and hedge funds have shown in Kronos Worldwide’s stock. Currently, approximately 16.29% of the company’s stock is owned by these entities.
Turning to recent developments within Kronos Worldwide itself; on Friday NYSE:KRO opened at $8.57 per share. The company maintains a debt-to-equity ratio of 0.51 along with a current ratio of 4.05 and a quick ratio of 1.98—figures that reflect its financial stability and liquidity position.
In terms of key market indicators: Kronos Worldwide has observed a fifty-day moving average of $9.08 and a two-hundred day moving average of $9.38—both figures offer valuable insights into trends over time.
Additionally worth noting are other relevant details about Kronos Worldwide’s market performance: it currently holds a market capitalization of $985.78 million and has a price-to-earnings ratio of -42.85, indicating its negative earnings. Lastly, the company’s beta stands at 1.06, signifying its sensitivity to market fluctuations.
To supplement our analysis, it is important to consider recent acquisitions made by Kronos Worldwide’s Executive Vice President (EVP), Andrew B. Nace. On May 24th, Nace acquired 4,000 shares of Kronos Worldwide stock at an average price of $8.31 per share, resulting in a total investment of $33,240. Subsequently, he further purchased an additional 2,728 shares on August 7th at an average cost of $9.17 per share—amounting to $25,015.76. As a result of these acquisitions, the EVP now owns a significant stake in the company valued at approximately $141,704.
These insider transactions were disclosed in accordance with regulations set by the Securities and Exchange Commission (SEC). It should be noted that corporate insiders now possess just 0.11% of Kronos Worldwide’s stock.
The recent changes in ownership and the insider activity within Kronos Worldwide provide valuable insights into the promising outlook for the company. Investors and industry experts will continue to monitor these developments closely as they assess the potential for growth and stability within this specialty chemicals company.
For comprehensive information on Kronos Worldwide’s performance and prospects, interested parties can refer to our latest report available through this hyperlink
