Kronos Worldwide (NYSE:KRO) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Kronos Worldwide (NYSE:KRO) from a buy rating to a hold rating in a report published on Monday morning.

Kronos Worldwide Price Performance

Shares of KRO opened at $7.57 on Monday. The stock’s fifty day moving average is $9.13 and its 200-day moving average is $10.51. The firm has a market capitalization of $870.71 million, a price-to-earnings ratio of 9.34 and a beta of 1.16. Kronos Worldwide has a one year low of $7.17 and a one year high of $14.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 2.68.

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

Kronos Worldwide Dividend Announcement

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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date is Tuesday, March 11th. Kronos Worldwide’s payout ratio is currently 27.03%.

Insider Buying and Selling

In other news, Director Kevin B. Kramer bought 14,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $7.43 per share, with a total value of $104,020.00. Following the completion of the acquisition, the director now directly owns 21,460 shares in the company, valued at approximately $159,447.80. The trade was a 187.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kronos Worldwide

Institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its stake in Kronos Worldwide by 329.5% in the 3rd quarter. Barclays PLC now owns 33,695 shares of the specialty chemicals company’s stock worth $419,000 after purchasing an additional 25,849 shares in the last quarter. Algert Global LLC boosted its position in Kronos Worldwide by 230.0% during the 3rd quarter. Algert Global LLC now owns 69,215 shares of the specialty chemicals company’s stock worth $862,000 after acquiring an additional 48,240 shares during the period. State Street Corp boosted its position in Kronos Worldwide by 1.4% during the 3rd quarter. State Street Corp now owns 575,541 shares of the specialty chemicals company’s stock worth $7,165,000 after acquiring an additional 8,218 shares during the period. Zacks Investment Management acquired a new stake in Kronos Worldwide during the 3rd quarter worth about $632,000. Finally, Charles Schwab Investment Management Inc. boosted its position in Kronos Worldwide by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,652 shares of the specialty chemicals company’s stock worth $2,237,000 after acquiring an additional 3,833 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.