Kronos Worldwide (NYSE:KRO) Stock Price Down 3.7% – Here’s What Happened

Kronos Worldwide, Inc. (NYSE:KRO)’s share price traded down 3.7% on Tuesday . The company traded as low as $6.85 and last traded at $6.85. Approximately 20,489 shares were traded during mid-day trading, a decline of 90% from the average session volume of 202,394 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th.

Kronos Worldwide Price Performance

The company has a fifty day moving average of $8.04 and a 200-day moving average of $9.80. 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 stock has a market cap of $792.60 million, a PE ratio of 8.51 and a beta of 1.21.

Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings results on Thursday, March 6th. The specialty chemicals company reported ($0.12) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.31). The business had revenue of $423.10 million during the quarter, compared to analysts’ expectations of $494.19 million. Kronos Worldwide had a net margin of 5.05% and a return on equity of 11.74%.

Kronos Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Tuesday, March 11th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Tuesday, March 11th. Kronos Worldwide’s payout ratio is presently 27.03%.

Insider Buying and Selling

In other news, Director Kevin B. Kramer purchased 14,000 shares of the stock in a transaction on Tuesday, March 11th. The stock was bought at an average price of $7.43 per share, for a total transaction of $104,020.00. Following the acquisition, the director now directly owns 21,460 shares of the company’s stock, valued at approximately $159,447.80. The trade was a 187.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

Hedge Funds Weigh In On Kronos Worldwide

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in shares of Kronos Worldwide in the 4th quarter valued at about $25,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Kronos Worldwide during the 4th quarter worth approximately $30,000. Aquatic Capital Management LLC boosted its holdings in shares of 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 in the last quarter. State of Wyoming raised its stake 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 acquiring an additional 1,105 shares in the last quarter. Finally, Caisse Des Depots ET Consignations acquired a new stake in Kronos Worldwide during the 4th quarter worth $54,000. Hedge funds and other 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.