Kronos Worldwide (NYSE:KRO) Shares Gap Down on Disappointing Earnings

Shares of Kronos Worldwide, Inc. (NYSE:KRO - Get Free Report) gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $8.55, but opened at $7.73. Kronos Worldwide shares last traded at $7.64, with a volume of 36,171 shares trading hands.

The specialty chemicals company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.31). The firm had revenue of $423.10 million during the quarter, compared to analyst estimates of $494.19 million. Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%.

Kronos Worldwide Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Tuesday, March 11th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, March 11th. Kronos Worldwide's payout ratio is 27.03%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Kronos Worldwide from a "buy" rating to a "hold" rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Kronos Worldwide currently has a consensus rating of "Hold" and a consensus price target of $12.00.

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Institutional Investors Weigh In On Kronos Worldwide

Several hedge funds and other institutional investors have recently modified their holdings of KRO. Aigen Investment Management LP acquired a new stake in Kronos Worldwide in the 3rd quarter valued at $141,000. Cornercap Investment Counsel Inc. bought a new stake in shares of Kronos Worldwide during the third quarter worth about $264,000. Quest Partners LLC raised its holdings in shares of Kronos Worldwide by 522.7% in the 3rd quarter. Quest Partners LLC now owns 54,826 shares of the specialty chemicals company's stock worth $683,000 after acquiring an additional 46,021 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Kronos Worldwide by 2.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 179,652 shares of the specialty chemicals company's stock valued at $2,237,000 after purchasing an additional 3,833 shares during the last quarter. Finally, Algert Global LLC boosted its position in shares of Kronos Worldwide by 230.0% during the third quarter. Algert Global LLC now owns 69,215 shares of the specialty chemicals company's stock valued at $862,000 after buying an additional 48,240 shares during the last quarter. Institutional investors own 15.11% of the company's stock.

Kronos Worldwide Price Performance

The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $877.15 million, a PE ratio of 9.41 and a beta of 1.16. The business has a 50-day moving average of $9.17 and a 200 day moving average of $10.53.

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.