Kronos Worldwide (NYSE:KRO) Shares Gap Down Following Weak Earnings

Kronos Worldwide, Inc. (NYSE:KRO)’s share price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $8.55, but opened at $7.73. Kronos Worldwide shares last traded at $7.64, with a volume of 36,171 shares changing hands.

The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%. The firm had revenue of $423.10 million during the quarter, compared to analyst estimates of $494.19 million.

Kronos Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.54%. Kronos Worldwide’s payout ratio is 24.69%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Kronos Worldwide from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Institutional Trading of Kronos Worldwide

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new stake in Kronos Worldwide during the 4th quarter worth $25,000. KLP Kapitalforvaltning AS bought a new position in Kronos Worldwide during the 4th quarter valued at $30,000. Aquatic Capital Management LLC boosted its stake in shares of Kronos Worldwide by 144.8% in the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 1,883 shares during the last quarter. State of Wyoming boosted its holdings in shares of Kronos Worldwide by 28.1% in the 4th quarter. State of Wyoming now owns 5,031 shares of the specialty chemicals company’s stock worth $49,000 after buying an additional 1,105 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Kronos Worldwide in the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 15.11% of the company’s stock.

Kronos Worldwide Trading Down 7.9 %

The firm has a fifty day moving average of $9.29 and a two-hundred day moving average of $10.62. The company has a market cap of $905.91 million, a PE ratio of 9.72 and a beta of 1.16. The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

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.