Kronos Worldwide (NYSE:KRO) Posts Quarterly Earnings Results

by · The Cerbat Gem

Kronos Worldwide (NYSE:KRO – Get Free Report) issued its quarterly earnings data on Thursday. The specialty chemicals company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.26), FiscalAI reports. The firm had revenue of $456.90 million for the quarter, compared to analysts’ expectations of $519.27 million. Kronos Worldwide had a return on equity of 8.04% and a net margin of 3.57%.

Kronos Worldwide Stock Down 0.3%

KRO stock traded down $0.02 during midday trading on Thursday, hitting $4.72. 303,607 shares of the company’s stock were exchanged, compared to its average volume of 266,515. Kronos Worldwide has a 12-month low of $4.61 and a 12-month high of $12.92. The company has a current ratio of 2.79, a quick ratio of 1.04 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $542.47 million, a price-to-earnings ratio of 8.13 and a beta of 1.11. The firm has a 50 day moving average price of $5.54 and a 200-day moving average price of $6.15.

Kronos Worldwide Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, November 21st. This represents a $0.20 annualized dividend and a yield of 4.2%. Kronos Worldwide’s payout ratio is currently 34.48%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Kronos Worldwide by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 527,839 shares of the specialty chemicals company’s stock worth $3,273,000 after purchasing an additional 12,260 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Kronos Worldwide by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,663 shares of the specialty chemicals company’s stock valued at $1,651,000 after purchasing an additional 22,046 shares during the period. AQR Capital Management LLC boosted its stake in Kronos Worldwide by 478.7% during the 1st quarter. AQR Capital Management LLC now owns 125,969 shares of the specialty chemicals company’s stock valued at $942,000 after purchasing an additional 104,202 shares during the period. Qube Research & Technologies Ltd increased its stake in shares of Kronos Worldwide by 11.1% in the second quarter. Qube Research & Technologies Ltd now owns 111,009 shares of the specialty chemicals company’s stock valued at $688,000 after purchasing an additional 11,122 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in Kronos Worldwide by 52.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 93,301 shares of the specialty chemicals company’s stock worth $578,000 after buying an additional 31,902 shares in the last quarter. Institutional investors and hedge funds own 15.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KRO. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kronos Worldwide in a report on Wednesday, October 8th. Zacks Research upgraded shares of Kronos Worldwide from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. The Goldman Sachs Group lowered their price objective 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, Wall Street Zen lowered Kronos Worldwide from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. One equities research analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and a consensus price target of $6.50.

Check Out Our Latest Research Report on Kronos Worldwide

About Kronos Worldwide

(Get Free Report)

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.

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