Kronos Worldwide Inc (NYSE:KRO) EVP Andrew B. Nace Acquires 3,000 Shares

Key Points

• EVP Andrew B. Nace of Kronos Worldwide acquired 3,000 shares at an average price of $5.83 per share, totaling $17,490, increasing his stake in the company by 18.23%.
• Kronos Worldwide reported Q2 earnings of ($0.08) per share, missing estimates of $0.13, with revenues of $494.40 million, below the expected $508.47 million.
• The company announced a $0.05 quarterly dividend, which corresponds to an annualized yield of 3.2%, with an ex-dividend date set for September 5th.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) EVP Andrew B. Nace acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $5.83 per share, for a total transaction of $17,490.00. Following the completion of the acquisition, the executive vice president owned 19,453 shares in the company, valued at $113,410.99. The trade was a 18.23% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Kronos Worldwide Stock Up 4.0%

Kronos Worldwide stock traded up $0.24 during midday trading on Monday, reaching $6.25. The company's stock had a trading volume of 138,599 shares, compared to its average volume of 243,985. Kronos Worldwide Inc has a fifty-two week low of $4.70 and a fifty-two week high of $12.98. The company has a quick ratio of 1.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.59. The company has a market cap of $718.95 million, a P/E ratio of 10.84 and a beta of 1.09. The business has a 50-day simple moving average of $6.11 and a 200-day simple moving average of $7.14.

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

Kronos Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.2%. Kronos Worldwide's dividend payout ratio (DPR) is presently 34.48%.

Institutional Trading of Kronos Worldwide

A number of large investors have recently made changes to their positions in the stock. State of Wyoming lifted its stake in shares of Kronos Worldwide by 28.1% during the 4th quarter. State of Wyoming now owns 5,031 shares of the specialty chemicals company's stock worth $49,000 after purchasing an additional 1,105 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of Kronos Worldwide by 0.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 315,992 shares of the specialty chemicals company's stock worth $3,081,000 after purchasing an additional 1,130 shares during the period. Aquatic Capital Management LLC lifted its stake in shares of Kronos Worldwide by 144.8% during the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 1,883 shares during the period. PDT Partners LLC lifted its stake in shares of Kronos Worldwide by 5.0% during the 2nd quarter. PDT Partners LLC now owns 52,743 shares of the specialty chemicals company's stock worth $327,000 after purchasing an additional 2,500 shares during the period. Finally, Federated Hermes Inc. purchased a new position in shares of Kronos Worldwide during the 4th quarter worth $25,000. Institutional investors and hedge funds own 15.11% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on KRO. Wall Street Zen cut Kronos Worldwide from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Barclays lowered their price objective on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating for the company in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group lowered their price objective on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a research report on Wednesday, May 14th.

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.