Insider Buying: Kronos Worldwide Inc (NYSE:KRO) Vice Chairman Purchases 5,000 Shares of Stock

Key Points

• Kronos Worldwide Vice Chairman Michael Shawn Simmons purchased 5,000 shares of the company stock for a total of $24,350, indicating insider confidence in the company's prospects.
• The company recently reported a loss of $0.08 per share, missing analysts' expectations by ($0.21), alongside revenue of $494.40 million against a forecast of $508.47 million.
• Kronos Worldwide declared a quarterly dividend of $0.05 per share, resulting in an annualized dividend yield of 3.9%, with a payout ratio of 34.48%.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) Vice Chairman Michael Shawn Simmons purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average price of $4.87 per share, with a total value of $24,350.00. Following the completion of the acquisition, the insider directly owned 5,000 shares in the company, valued at $24,350. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Kronos Worldwide Stock Down 1.5%

Shares of NYSE:KRO traded down $0.09 during midday trading on Friday, reaching $6.07. The company's stock had a trading volume of 116,014 shares, compared to its average volume of 242,524. The firm has a 50 day moving average of $6.12 and a 200-day moving average of $7.20. The firm has a market capitalization of $698.35 million, a P/E ratio of 10.48 and a beta of 1.09. The company has a quick ratio of 1.04, a current ratio of 2.79 and a debt-to-equity ratio of 0.59. Kronos Worldwide Inc has a 12-month low of $4.70 and a 12-month high of $12.98.

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

Kronos Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, September 5th. Kronos Worldwide's dividend payout ratio is 34.48%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Kronos Worldwide from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. The Goldman Sachs Group reduced their price objective on shares of 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, Barclays reduced their price objective on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th.

Institutional Trading of Kronos Worldwide

Several institutional investors have recently bought and sold shares of KRO. Federated Hermes Inc. purchased a new stake in Kronos Worldwide during the 4th quarter valued at about $25,000. Quantbot Technologies LP purchased a new stake in Kronos Worldwide during the 1st quarter valued at about $29,000. KLP Kapitalforvaltning AS purchased a new stake in Kronos Worldwide during the 4th quarter valued at about $30,000. Aquatic Capital Management LLC lifted its stake in 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 valued at $31,000 after acquiring an additional 1,883 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Kronos Worldwide during the 2nd quarter valued at about $42,000. 15.11% of the stock is owned by hedge funds and other 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.