Kronos Worldwide (NYSE:KRO) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of Kronos Worldwide (NYSE:KRO) from a buy rating to a hold rating in a report released on Friday morning.

Several other brokerages have also recently commented on KRO. Barclays increased their target price on Kronos Worldwide from $7.00 to $8.00 and gave the stock an underweight rating in a report on Tuesday, March 26th. TheStreet upgraded Kronos Worldwide from a d+ rating to a c- rating in a report on Monday, March 11th.

Kronos Worldwide Price Performance

Kronos Worldwide stock opened at $11.32 on Friday. The stock has a fifty day moving average price of $10.56 and a two-hundred day moving average price of $9.23. The company has a current ratio of 3.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.57. Kronos Worldwide has a 52-week low of $6.16 and a 52-week high of $12.48.

Kronos Worldwide (NYSE:KRO) last announced its earnings results on Wednesday, March 6th. The specialty chemicals company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.02. The company had revenue of $400.10 million for the quarter, compared to analysts’ expectations of $404.94 million. Kronos Worldwide had a negative return on equity of 5.73% and a negative net margin of 2.95%. On average, equities research analysts anticipate that Kronos Worldwide will post 0.33 earnings per share for the current year.

Kronos Worldwide Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, March 5th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend was Monday, March 4th. Kronos Worldwide’s dividend payout ratio is -176.74%.

Hedge Funds Weigh In On Kronos Worldwide

Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank boosted its holdings in Kronos Worldwide by 7.5% during the first quarter. Swiss National Bank now owns 54,700 shares of the specialty chemicals company’s stock worth $849,000 after buying an additional 3,800 shares during the last quarter. Raymond James & Associates boosted its holdings in Kronos Worldwide by 2.3% during the first quarter. Raymond James & Associates now owns 60,411 shares of the specialty chemicals company’s stock worth $938,000 after buying an additional 1,350 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Kronos Worldwide by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 955,037 shares of the specialty chemicals company’s stock worth $14,823,000 after buying an additional 16,085 shares during the last quarter. American Century Companies Inc. bought a new position in Kronos Worldwide during the first quarter worth about $426,000. Finally, Acadian Asset Management LLC boosted its holdings in Kronos Worldwide by 2,241.6% during the first quarter. Acadian Asset Management LLC now owns 41,891 shares of the specialty chemicals company’s stock worth $648,000 after buying an additional 40,102 shares during the last quarter. 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.