Kronos Worldwide (KRO) Reaches New 1-Year Low Following Weak Earnings

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Kronos Worldwide, Inc. (NYSE:KRO) shares reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $12.79 and last traded at $13.41, with a volume of 71193 shares traded. The stock had previously closed at $15.81.

The specialty chemicals company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.49). Kronos Worldwide had a return on equity of 40.78% and a net margin of 14.81%. The company had revenue of $410.30 million for the quarter, compared to analyst estimates of $467.00 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was down 11.7% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Tuesday, December 4th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.17%. Kronos Worldwide’s dividend payout ratio (DPR) is 36.17%.

A number of brokerages have recently weighed in on KRO. ValuEngine downgraded Kronos Worldwide from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Barclays lowered their price target on Kronos Worldwide from $26.00 to $24.00 and set an “underweight” rating for the company in a report on Monday, August 13th. Finally, SunTrust Banks restated a “hold” rating and set a $24.00 price objective on shares of Kronos Worldwide in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $25.50.

A number of large investors have recently bought and sold shares of KRO. Sun Life Financial INC acquired a new position in Kronos Worldwide during the 2nd quarter worth approximately $196,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Kronos Worldwide in the 2nd quarter valued at $241,000. Bank of Montreal Can increased its stake in shares of Kronos Worldwide by 37.5% in the 2nd quarter. Bank of Montreal Can now owns 11,053 shares of the specialty chemicals company’s stock valued at $249,000 after buying an additional 3,016 shares during the period. CIBC World Markets Inc. acquired a new stake in shares of Kronos Worldwide in the 2nd quarter valued at $314,000. Finally, Dupont Capital Management Corp acquired a new stake in shares of Kronos Worldwide in the 2nd quarter valued at $352,000. 18.17% of the stock is currently owned by hedge funds and other institutional investors.

The company has a market cap of $1.79 billion, a P/E ratio of 6.97, a price-to-earnings-growth ratio of 0.45 and a beta of 2.38. The company has a quick ratio of 3.08, a current ratio of 4.64 and a debt-to-equity ratio of 0.61.

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About Kronos Worldwide (NYSE:KRO)

Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. It produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.

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