Kronos Worldwide (NYSE:KRO) Sets New 12-Month Low - What's Next?

Key Points

• Kronos Worldwide reached a new 52-week low of $5.80 during trading, down from a previous close of $6.02, with a total volume of 144,441 shares traded.
• Recent analyst reports have resulted in downgrades for Kronos Worldwide, with analysts from Goldman Sachs and Barclays reducing their price targets to $8.50 and $7.00, respectively, both issuing negative ratings.
• Kronos Worldwide announced a quarterly dividend of $0.05 per share, reflecting a 3.48% yield based on its annualized dividend of $0.20.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $5.85 and last traded at $5.80, with a volume of 144441 shares traded. The stock had previously closed at $6.02.

Analyst Ratings Changes

Several research firms recently weighed in on KRO. Barclays cut their price target on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research note on Wednesday, May 28th. Wall Street Zen downgraded Kronos Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group lowered 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.

Kronos Worldwide Stock Down 2.8%

The company's 50 day moving average price is $6.31 and its two-hundred day moving average price is $7.45. The company has a quick ratio of 0.99, a current ratio of 2.62 and a debt-to-equity ratio of 0.56. The stock has a market cap of $598.21 million, a P/E ratio of 6.27 and a beta of 1.10.

Kronos Worldwide (NYSE:KRO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Kronos Worldwide had a return on equity of 11.71% and a net margin of 5.07%. The firm had revenue of $489.80 million during the quarter, compared to analysts' expectations of $466.56 million.

Kronos Worldwide Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Monday, June 9th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.8%. The ex-dividend date was Monday, June 9th. Kronos Worldwide's dividend payout ratio is 24.10%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new stake in Kronos Worldwide in the 4th quarter valued at about $25,000. Quantbot Technologies LP purchased a new position in Kronos Worldwide in the 1st quarter valued at approximately $29,000. KLP Kapitalforvaltning AS purchased a new position in Kronos Worldwide in the 4th quarter valued at approximately $30,000. Aquatic Capital Management LLC boosted its position in Kronos Worldwide by 144.8% in the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 1,883 shares during the period. Finally, US Bancorp DE boosted its position in Kronos Worldwide by 2,455.6% in the 1st quarter. US Bancorp DE now owns 6,108 shares of the specialty chemicals company's stock valued at $46,000 after buying an additional 5,869 shares during the period. Institutional investors and hedge funds own 15.11% of the company's stock.

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.