Kronos Worldwide (NYSE:KRO) Posts Earnings Results, Misses Estimates By $0.12 EPS

Kronos Worldwide (NYSE:KRO) issued its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.12), Zacks reports. The business had revenue of $456.90 million during 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 7.1%

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

Kronos Worldwide Announces Dividend

The firm also recently announced 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 is presently 34.48%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KRO. The Goldman Sachs Group decreased their target price on shares of Kronos Worldwide from $8.50 to $6.00 and set a “sell” rating on the stock in a research report on Friday, October 17th. Wall Street Zen downgraded Kronos Worldwide from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Zacks Research upgraded Kronos Worldwide from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Kronos Worldwide in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus price target of $6.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of Kronos Worldwide in the second quarter worth about $42,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Kronos Worldwide during the 2nd quarter worth about $70,000. Corient Private Wealth LLC acquired a new stake in shares of Kronos Worldwide during the 2nd quarter valued at about $101,000. Caxton Associates LLP purchased a new position in shares of Kronos Worldwide in the 2nd quarter valued at about $147,000. Finally, Jane Street Group LLC raised its holdings in Kronos Worldwide by 20.3% in 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 period. Hedge funds and other institutional investors own 15.11% of the company’s stock.

About Kronos Worldwide

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.