Kronos Worldwide (NYSE:KRO) Issues Quarterly Earnings Results

Kronos Worldwide (NYSE:KRO) released its earnings results on Thursday. The specialty chemicals company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.12), Zacks reports. The business had revenue of $456.90 million for the quarter, compared to analysts’ expectations of $519.27 million. Kronos Worldwide had a net margin of 3.57% and a return on equity of 8.04%.

Kronos Worldwide Stock Performance

KRO stock traded down $0.34 during midday trading on Friday, hitting $4.39. 714,568 shares of the company traded hands, compared to its average volume of 268,613. Kronos Worldwide has a twelve month low of $4.08 and a twelve month high of $12.32. The stock has a market capitalization of $504.51 million, a price-to-earnings ratio of 7.56 and a beta of 1.11. The company has a quick ratio of 1.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.59. The business has a 50 day simple moving average of $5.50 and a 200-day simple moving average of $6.14.

Kronos Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Friday, November 21st will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.6%. The ex-dividend date is Friday, November 21st. Kronos Worldwide’s dividend payout ratio (DPR) is 34.48%.

Wall Street Analysts Forecast Growth

KRO has been the subject of several research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Kronos Worldwide in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Kronos Worldwide from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. The Goldman Sachs Group dropped their price target on shares of Kronos Worldwide from $8.50 to $6.00 and set a “sell” rating on the stock in a research note on Friday, October 17th. Finally, Zacks Research raised Kronos Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Kronos Worldwide presently has a consensus rating of “Strong Sell” and an average target price of $6.50.

Institutional Trading of Kronos Worldwide

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Kronos Worldwide in the 2nd quarter worth $42,000. The Manufacturers Life Insurance Company bought a new stake in Kronos Worldwide during the second quarter valued at about $70,000. Corient Private Wealth LLC acquired a new stake in shares of Kronos Worldwide in the second quarter valued at about $101,000. Caxton Associates LLP bought a new position in shares of Kronos Worldwide in the second quarter worth about $147,000. Finally, Jane Street Group LLC lifted its position in shares of Kronos Worldwide by 20.3% during the 1st quarter. Jane Street Group LLC now owns 24,368 shares of the specialty chemicals company’s stock worth $182,000 after purchasing an additional 4,104 shares during the last quarter. 15.11% of the stock is owned by institutional investors.

Kronos Worldwide Company Profile

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.