Kronos Worldwide (KRO) Trading Down 10.9%

Kronos Worldwide Inc (NYSE:KRO) dropped 10.9% during trading on Wednesday . The company traded as low as $23.72 and last traded at $24.30. Approximately 1,606,865 shares were traded during mid-day trading, an increase of 227% from the average daily volume of 490,669 shares. The stock had previously closed at $27.26.

KRO has been the topic of a number of research analyst reports. ValuEngine upgraded Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 27th. SunTrust Banks lifted their target price on Kronos Worldwide from $21.00 to $24.00 and gave the company a “hold” rating in a research report on Wednesday, October 11th. Barclays lifted their target price on Kronos Worldwide from $17.00 to $24.00 and gave the company an “underweight” rating in a research report on Tuesday, November 14th. Finally, BidaskClub upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $24.00.

The company has a current ratio of 4.26, a quick ratio of 2.86 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3,146.74, a PE ratio of 18.60, a P/E/G ratio of 3.37 and a beta of 2.18.

Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings data on Wednesday, November 8th. The specialty chemicals company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.21. Kronos Worldwide had a return on equity of 31.38% and a net margin of 20.52%. The business had revenue of $464.50 million during the quarter, compared to analysts’ expectations of $448.00 million. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was up 30.4% on a year-over-year basis. research analysts expect that Kronos Worldwide Inc will post 1.61 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, December 6th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.47%. Kronos Worldwide’s payout ratio is presently 20.98%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Kronos Worldwide by 37.1% in the second quarter. Vanguard Group Inc. now owns 2,227,707 shares of the specialty chemicals company’s stock valued at $40,589,000 after buying an additional 603,137 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Kronos Worldwide by 11.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,350,208 shares of the specialty chemicals company’s stock valued at $30,826,000 after buying an additional 139,252 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Kronos Worldwide by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 1,185,691 shares of the specialty chemicals company’s stock valued at $27,069,000 after buying an additional 34,857 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Kronos Worldwide by 7.8% in the second quarter. Advisors Asset Management Inc. now owns 941,607 shares of the specialty chemicals company’s stock valued at $17,156,000 after buying an additional 67,849 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Kronos Worldwide by 9.6% in the second quarter. Renaissance Technologies LLC now owns 699,300 shares of the specialty chemicals company’s stock valued at $12,741,000 after buying an additional 61,400 shares in the last quarter. 16.18% of the stock is owned by institutional investors and hedge funds.

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Kronos Worldwide Company Profile

Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.

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