Kronos Worldwide, Inc. (NYSE:KRO) issued its earnings results on Monday. The specialty chemicals company reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.08. Kronos Worldwide had a negative net margin of 0.02% and a negative return on equity of 0.07%. The company had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $350 million. During the same period last year, the company posted ($0.03) earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.
Shares of Kronos Worldwide (NYSE:KRO) traded up 1.61% during trading on Friday, hitting $19.58. 349,349 shares of the company’s stock were exchanged. The firm has a market capitalization of $2.27 billion, a PE ratio of 27.04 and a beta of 2.24. The stock’s 50 day moving average is $17.25 and its 200 day moving average is $13.96. Kronos Worldwide has a 1-year low of $4.70 and a 1-year high of $19.96.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, June 6th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.11%. Kronos Worldwide’s dividend payout ratio (DPR) is presently -5,994.01%.
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Several hedge funds have recently bought and sold shares of KRO. Schwab Charles Investment Management Inc. increased its stake in Kronos Worldwide by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 87,535 shares of the specialty chemicals company’s stock valued at $1,439,000 after buying an additional 4,617 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kronos Worldwide by 5.5% in the first quarter. Geode Capital Management LLC now owns 169,827 shares of the specialty chemicals company’s stock valued at $2,790,000 after buying an additional 8,786 shares in the last quarter. Morgan Stanley boosted its stake in Kronos Worldwide by 1.3% in the first quarter. Morgan Stanley now owns 204,942 shares of the specialty chemicals company’s stock valued at $3,367,000 after buying an additional 2,650 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Kronos Worldwide by 3.2% in the first quarter. Vanguard Group Inc. now owns 1,624,570 shares of the specialty chemicals company’s stock valued at $26,691,000 after buying an additional 50,903 shares during the last quarter. 13.80% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on KRO. Barclays PLC increased their target price on shares of Kronos Worldwide from $7.00 to $12.00 and gave the company an “underweight” rating in a report on Tuesday, March 14th. Zacks Investment Research upgraded shares of Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Friday, March 17th. Standpoint Research lowered shares of Kronos Worldwide from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, TheStreet upgraded shares of Kronos Worldwide from a “c” rating to a “b-” rating in a research report on Wednesday, March 29th.
About Kronos Worldwide
Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.
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