Shares of Kronos Worldwide, Inc. (NYSE:KRO) hit a new 52-week low on Thursday following a dissappointing earnings announcement. The company traded as low as $12.79 and last traded at $13.41, with a volume of 71193 shares. The stock had previously closed at $15.81.
The specialty chemicals company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 earned $0.64 earnings per share. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Tuesday, December 4th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 3rd. This represents a $0.68 annualized dividend and a yield of 5.17%. Kronos Worldwide’s dividend payout ratio is presently 36.17%.
A number of hedge funds have recently bought and sold shares of the business. LSV Asset Management lifted its holdings in Kronos Worldwide by 78.4% during the third quarter. LSV Asset Management now owns 4,388,127 shares of the specialty chemicals company’s stock worth $71,307,000 after acquiring an additional 1,927,760 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Kronos Worldwide by 21.1% in the second quarter. BlackRock Inc. now owns 1,895,717 shares of the specialty chemicals company’s stock valued at $42,711,000 after purchasing an additional 329,784 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kronos Worldwide by 15.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,395,482 shares of the specialty chemicals company’s stock valued at $31,438,000 after purchasing an additional 188,757 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Kronos Worldwide by 3.5% in the second quarter. Renaissance Technologies LLC now owns 1,287,900 shares of the specialty chemicals company’s stock valued at $29,016,000 after purchasing an additional 43,000 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Kronos Worldwide by 2.8% in the second quarter. Northern Trust Corp now owns 350,491 shares of the specialty chemicals company’s stock valued at $7,898,000 after purchasing an additional 9,700 shares in the last quarter. Hedge funds and other institutional investors own 18.17% of the company’s stock.
The company has a quick ratio of 3.08, a current ratio of 4.64 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.79 billion, a PE ratio of 6.97, a PEG ratio of 0.45 and a beta of 2.38.
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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