Kronos Worldwide (NYSE:KRO) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research cut shares of Kronos Worldwide (NYSE:KRO) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

A number of other research analysts have also recently commented on KRO. Weiss Ratings reiterated a “sell (d)” rating on shares of Kronos Worldwide in a research note on Monday. The Goldman Sachs Group lowered their target price on Kronos Worldwide from $8.50 to $6.00 and set a “sell” rating for the company in a report on Friday, October 17th. Finally, Wall Street Zen downgraded Kronos Worldwide from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Kronos Worldwide has an average rating of “Strong Sell” and an average target price of $6.50.

Kronos Worldwide Trading Down 2.6%

KRO opened at $4.76 on Wednesday. The company has a market cap of $547.06 million, a P/E ratio of -13.21 and a beta of 1.15. The company has a current ratio of 3.83, a quick ratio of 1.47 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $4.98 and its 200-day moving average is $5.78. Kronos Worldwide has a 1-year low of $4.08 and a 1-year high of $10.71.

Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings data on Thursday, November 6th. The specialty chemicals company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.12). Kronos Worldwide had a negative net margin of 2.22% and a negative return on equity of 3.09%. The company had revenue of $456.90 million during the quarter, compared to the consensus estimate of $519.27 million.

Kronos Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Friday, November 21st will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Friday, November 21st. Kronos Worldwide’s dividend payout ratio (DPR) is currently -55.56%.

Institutional Investors Weigh In On Kronos Worldwide

Several institutional investors and hedge funds have recently made changes to their positions in KRO. Boston Partners raised its position in shares of Kronos Worldwide by 16.9% during the third quarter. Boston Partners now owns 2,948,114 shares of the specialty chemicals company’s stock worth $16,921,000 after acquiring an additional 426,662 shares during the last quarter. Geode Capital Management LLC increased its position in Kronos Worldwide by 2.4% during the 2nd quarter. Geode Capital Management LLC now owns 527,839 shares of the specialty chemicals company’s stock valued at $3,273,000 after purchasing an additional 12,260 shares during the period. Bank of America Corp DE increased its position in Kronos Worldwide by 55.8% during the 3rd quarter. Bank of America Corp DE now owns 472,305 shares of the specialty chemicals company’s stock valued at $2,711,000 after purchasing an additional 169,246 shares during the period. Nuveen LLC bought a new position in Kronos Worldwide during the 1st quarter worth approximately $2,090,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Kronos Worldwide by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 220,663 shares of the specialty chemicals company’s stock worth $1,651,000 after purchasing an additional 22,046 shares during the period. Institutional investors and hedge funds 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.