Kronos Worldwide (NYSE:KRO) Downgraded 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 released on Friday morning.

Other equities analysts have also recently issued reports about the company. Barclays lifted their price objective on Kronos Worldwide from $7.00 to $8.00 and gave the company an underweight rating in a report on Tuesday, March 26th. TheStreet raised Kronos Worldwide from a d+ rating to a c- rating in a report on Monday, March 11th.

Kronos Worldwide Price Performance

Shares of NYSE KRO opened at $11.32 on Friday. The company has a quick ratio of 1.49, a current ratio of 3.01 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $9.23. Kronos Worldwide has a fifty-two week low of $6.16 and a fifty-two week high of $12.48.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Wednesday, March 6th. The specialty chemicals company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.02. The firm had revenue of $400.10 million during the quarter, compared to analysts’ expectations of $404.94 million. Kronos Worldwide had a negative return on equity of 5.73% and a negative net margin of 2.95%. On average, equities research analysts anticipate that Kronos Worldwide will post 0.33 EPS for the current year.

Kronos Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.71%. Kronos Worldwide’s dividend payout ratio (DPR) is currently -176.74%.

Hedge Funds Weigh In On Kronos Worldwide

Institutional investors and hedge funds have recently bought and sold shares of the company. Citigroup Inc. increased its holdings in Kronos Worldwide by 111.8% in the 3rd quarter. Citigroup Inc. now owns 53,275 shares of the specialty chemicals company’s stock worth $413,000 after purchasing an additional 28,117 shares in the last quarter. KG&L Capital Management LLC increased its holdings in Kronos Worldwide by 5.7% in the 4th quarter. KG&L Capital Management LLC now owns 64,675 shares of the specialty chemicals company’s stock worth $640,000 after purchasing an additional 3,500 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Kronos Worldwide by 193.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 31,900 shares of the specialty chemicals company’s stock worth $317,000 after purchasing an additional 21,025 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Kronos Worldwide by 24.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 35,011 shares of the specialty chemicals company’s stock worth $271,000 after purchasing an additional 6,979 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Kronos Worldwide by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,106,941 shares of the specialty chemicals company’s stock worth $8,579,000 after purchasing an additional 9,924 shares in the last quarter. 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.