Kronos Worldwide (NYSE:KRO) Hits New 1-Year Low - Here's Why

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) hit a new 52-week low on Wednesday . The company traded as low as $5.85 and last traded at $5.80, with a volume of 144441 shares. The stock had previously closed at $6.02.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group reduced their target price on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a research note on Wednesday, May 14th. Wall Street Zen lowered shares of Kronos Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Barclays reduced their target price on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating for the company in a research note on Wednesday, May 28th.

Kronos Worldwide Stock Performance

The stock has a market capitalization of $599.34 million, a price-to-earnings ratio of 6.27 and a beta of 1.12. The company has a current ratio of 2.62, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock's 50 day moving average is $6.34 and its two-hundred day moving average is $7.49.

Kronos Worldwide (NYSE:KRO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 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 business had revenue of $489.80 million for the quarter, compared to the consensus estimate of $466.56 million.

Kronos Worldwide Announces Dividend

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

Institutional Investors Weigh In On Kronos Worldwide

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Wyoming lifted its position in 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 buying an additional 1,105 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in 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 buying an additional 1,130 shares in the last quarter. Aquatic Capital Management LLC lifted its position 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 worth $31,000 after buying an additional 1,883 shares in the last quarter. Federated Hermes Inc. bought a new stake in Kronos Worldwide during the 4th quarter worth about $25,000. Finally, Teacher Retirement System of Texas raised its holdings in shares of Kronos Worldwide by 4.1% in the 2nd quarter. Teacher Retirement System of Texas now owns 69,020 shares of the specialty chemicals company's stock valued at $428,000 after purchasing an additional 2,744 shares during the period. 15.11% of the stock is 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.