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There is no special name for 1/4 of a penny.
A US "penny" is actually a 1 cent coin, worth 1/100 of a dollar. A British penny (the coin's official name) is worth 1/100 of a pound sterling.
.1 = 1 tenth .01 = 1 one-hundredth .001 = 1 one-thousandth .0001 = 1 ten-thousandth .00001 = 1 one-hundred-thousandth
One thousandth can be shown as 1/1000 or 0.001.
One thousandth of a kilometre is one metre.