Vice Board Chairman & CEO of Kronos Worldwide Steven Watson Bought 10,000 Shares
George Soros bought 3,800 shares in the quarter that ended on 03/31/2011, which is 0.0035% of the $6.42 billion portfolio of Soros Fund Management LLC. John Keeley owns 20,000 shares as of March 31, 2011, an increase of 81.82% from the previous quarter. This position accounts for 0.02% of the $6.54 billion portfolio of Keeley Fund Management.
Steven Watson holds positions in a large number of companies currently. He is the vice chairman of the board and CEO of Kronos Worldwide, and also has served on the Valhi Inc.’s board of directors since 1998, and CEO since 2002. He is also president and director of Contran and director of Compx International Inc. Many of the companies that he is involved with are headquartered in Dallas, Texas, and are in the basic materials or industrial goods sectors.
Steven Watson has traded three times in Kronos Worldwide recently. He first purchased 6,000 shares of the company on 5/13/2011, then an additional 2,400 shares on 5/16/2011. Another 10,000 shares of the company were purchased on 8/3/11.
Kronos Worldwide recently reported net income for the second quarter of 2011 of $67.8 million compared with net income of $9.0 million in the second quarter of 2010. For the first six months of 2011, Kronos International reported net income of $108.9 million compared with net income of $49.3 million a year ago.
Steven L. Watson, chief executive officer, said, "Our segment profit in the first half of 2011 nearly quadrupled from the first half of last year. Continued strong global demand for TiO2 products allowed us to successfully implement further increases in our TiO2 selling prices during the first half of the year. Even with the cost of ore and other raw materials increasing, we believe our profit margins will continue to expand. We have continued to operate our manufacturing facilities at near full practical capacity utilization levels, and set several new internal production records during the first six months of 2011."