Kronos Worldwide (NYSE:KRO) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Kronos Worldwide (NYSE:KRO) experienced a significant 63% increase in trading volume on Thursday, with 391,693 shares traded compared to the previous session.
• Analysts have downgraded Kronos Worldwide, with Barclays lowering its price target to $7.00 and designating an "underweight" rating, while Wall Street Zen has reduced its rating from "hold" to "sell".
• The company recently reported a quarterly loss of ($0.08) per share, missing the consensus estimate, alongside a revenue of $494.40 million that also fell short of expectations.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) shares saw an uptick in trading volume on Thursday . 391,693 shares were traded during trading, an increase of 63% from the previous session's volume of 239,574 shares.The stock last traded at $6.29 and had previously closed at $6.03.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KRO. The Goldman Sachs Group cut their price objective on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a report on Wednesday, May 14th. Barclays dropped their target price on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Finally, Wall Street Zen cut Kronos Worldwide from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Kronos Worldwide has an average rating of "Sell" and an average target price of $7.75.

Kronos Worldwide Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.79 and a quick ratio of 1.04. The company's 50 day simple moving average is $6.09 and its 200 day simple moving average is $7.11. The stock has a market cap of $714.46 million, a P/E ratio of 10.71 and a beta of 1.09.

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

Kronos Worldwide Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.05 dividend. The ex-dividend date 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KRO. State of Wyoming raised its holdings 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 purchasing an additional 1,105 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Kronos Worldwide by 0.4% during the fourth 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 increased its stake 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 last quarter. PDT Partners LLC lifted its holdings in Kronos Worldwide by 5.0% during the second quarter. PDT Partners LLC now owns 52,743 shares of the specialty chemicals company's stock worth $327,000 after acquiring an additional 2,500 shares during the period. Finally, Teacher Retirement System of Texas raised its position in Kronos Worldwide by 4.1% in the second quarter. Teacher Retirement System of Texas now owns 69,020 shares of the specialty chemicals company's stock worth $428,000 after acquiring an additional 2,744 shares during the period. Institutional investors own 15.11% of the company's stock.

About Kronos Worldwide

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.