Kronos Worldwide Inc Announces Quarterly Dividend of $0.05 (NYSE:KRO)

Key Points

• Kronos Worldwide Inc has declared a quarterly dividend of $0.05 per share, which will be paid on September 18th to shareholders of record on September 5th, representing an annualized yield of 3.7%.
• The company reported a (0.08) earnings per share for the last quarter, falling short of analysts' expectations of $0.23.
• Recently, institutional investors have increased their stakes in Kronos Worldwide, with some notable increases including a 2,455.6% rise in ownership by US Bancorp DE in the first quarter.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, RTT News reports. Shareholders of record on Friday, September 5th will be given a dividend of 0.05 per share by the specialty chemicals company on Thursday, September 18th. This represents a c) annualized dividend and a yield of 4.1%. The ex-dividend date is Friday, September 5th.

Kronos Worldwide has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kronos Worldwide to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 19.6%.

Kronos Worldwide Stock Performance

NYSE KRO traded down $0.13 during trading on Friday, hitting $4.87. 305,374 shares of the company's stock traded hands, compared to its average volume of 298,244. The stock has a market capitalization of $559.72 million, a price-to-earnings ratio of 8.39 and a beta of 1.09. Kronos Worldwide has a 12-month low of $4.70 and a 12-month high of $12.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.04 and a current ratio of 2.79. The business has a 50 day moving average of $6.18 and a 200-day moving average of $7.28.

Kronos Worldwide (NYSE:KRO - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The specialty chemicals company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.21). The business had revenue of $494.40 million for the quarter, compared to analysts' expectations of $508.47 million. Kronos Worldwide had a net margin of 3.57% and a return on equity of 8.04%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of Kronos Worldwide by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,165,098 shares of the specialty chemicals company's stock worth $30,859,000 after purchasing an additional 109,674 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kronos Worldwide by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 2,217,961 shares of the specialty chemicals company's stock worth $21,625,000 after buying an additional 13,869 shares in the last quarter. Boston Partners boosted its stake in Kronos Worldwide by 10.7% in the second quarter. Boston Partners now owns 1,744,935 shares of the specialty chemicals company's stock worth $10,816,000 after buying an additional 169,039 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Kronos Worldwide by 4.5% in the fourth quarter. Renaissance Technologies LLC now owns 734,230 shares of the specialty chemicals company's stock worth $7,159,000 after buying an additional 31,830 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Kronos Worldwide by 2.4% in the second quarter. Geode Capital Management LLC now owns 527,839 shares of the specialty chemicals company's stock worth $3,273,000 after buying an additional 12,260 shares in the last quarter. 15.11% of the stock is currently owned by institutional investors.

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.