Kronos Worldwide (NYSE:KRO) Reaches New 12-Month Low – Here’s What Happened

Shares of Kronos Worldwide, Inc. (NYSE:KRO) hit a new 52-week low on Tuesday . The company traded as low as $7.17 and last traded at $7.31, with a volume of 31136 shares. The stock had previously closed at $7.33.

Analysts Set New Price Targets

Separately, StockNews.com cut Kronos Worldwide from a “buy” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Kronos Worldwide currently has an average rating of “Hold” and a consensus price target of $12.00.

Kronos Worldwide Price Performance

The stock has a market capitalization of $868.52 million, a price-to-earnings ratio of 9.37 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $9.21 and a 200-day moving average of $10.56.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Thursday, March 6th. The specialty chemicals company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.31). The business had revenue of $423.10 million during the quarter, compared to analysts’ expectations of $494.19 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Kronos Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Tuesday, March 11th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend is Tuesday, March 11th. Kronos Worldwide’s payout ratio is 27.03%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new stake in shares of Kronos Worldwide during the fourth quarter worth about $25,000. KLP Kapitalforvaltning AS bought a new stake in Kronos Worldwide during the 4th quarter valued at $30,000. Aquatic Capital Management LLC boosted its position in Kronos Worldwide by 144.8% during the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 1,883 shares during the period. State of Wyoming increased its holdings in shares of Kronos Worldwide by 28.1% during the fourth quarter. State of Wyoming now owns 5,031 shares of the specialty chemicals company’s stock valued at $49,000 after purchasing an additional 1,105 shares during the period. Finally, Caisse Des Depots ET Consignations bought a new stake in shares of Kronos Worldwide during the fourth quarter valued at about $54,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.

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.