Kronos Worldwide (NYSE:KRO) Reaches New 1-Year Low on Disappointing Earnings

Kronos Worldwide Inc (NYSE:KRO) reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $4.70 and last traded at $4.85, with a volume of 205969 shares. The stock had previously closed at $5.42.

The specialty chemicals company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.21). Kronos Worldwide had a net margin of 3.57% and a return on equity of 8.04%. The business had revenue of $494.40 million for the quarter, compared to analyst estimates of $508.47 million.

Kronos Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. Kronos Worldwide’s dividend payout ratio (DPR) is currently 24.10%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays decreased their price objective on Kronos Worldwide from $10.00 to $7.00 and set an “underweight” rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group decreased their price objective on Kronos Worldwide from $11.00 to $8.50 and set a “sell” rating on the stock in a research report on Wednesday, May 14th. Finally, Wall Street Zen lowered Kronos Worldwide from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Creative Planning boosted its position in Kronos Worldwide by 13.1% in the 2nd quarter. Creative Planning now owns 42,064 shares of the specialty chemicals company’s stock valued at $261,000 after buying an additional 4,857 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Kronos Worldwide by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 527,839 shares of the specialty chemicals company’s stock worth $3,273,000 after purchasing an additional 12,260 shares during the last quarter. Boston Partners boosted its position in shares of Kronos Worldwide by 10.7% in the 2nd quarter. Boston Partners now owns 1,744,935 shares of the specialty chemicals company’s stock worth $10,816,000 after purchasing an additional 169,039 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its position in shares of Kronos Worldwide by 52.3% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 106,271 shares of the specialty chemicals company’s stock worth $659,000 after purchasing an additional 36,499 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Kronos Worldwide by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 69,020 shares of the specialty chemicals company’s stock worth $428,000 after purchasing an additional 2,744 shares during the last quarter. 15.11% of the stock is currently owned by institutional investors.

Kronos Worldwide Price Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.99 and a current ratio of 2.79. The firm has a market capitalization of $559.67 million, a P/E ratio of 8.39 and a beta of 1.09. The company has a 50-day moving average price of $6.18 and a 200-day moving average price of $7.31.

Kronos Worldwide Company Profile

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.