According to Zacks, “Kronos Worldwide’s earnings and revenues for the first quarter of 2019 topped the respective Zacks Consensus Estimate. The company expects higher sales in 2019. It also sees higher production and sales volumes this year. Kronos Worldwide is poised to gain from rising demand for TiO2 in 2019. It is seeing strong demand across most market segments. Higher sales volumes should also drive its revenues. Kronos Worldwide should also benefit from new product developments and efforts to improve its facilities. The company also remains focused on returning value to shareholders. However, Kronos Worldwide faces challenges from declining TiO2 selling prices. Higher raw material costs are also expected to weigh on its margins. Kronos Worldwide has also underperformed the industry it belongs to over a year.”
Separately, ValuEngine upgraded shares of Kronos Worldwide from a sell rating to a hold rating in a report on Monday, February 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $25.33.
Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings data on Monday, March 11th. The specialty chemicals company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $378.00 million. Kronos Worldwide had a return on equity of 19.26% and a net margin of 9.87%. As a group, equities analysts anticipate that Kronos Worldwide will post 1.11 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Monday, June 3rd. Kronos Worldwide’s dividend payout ratio is 40.68%.
A number of institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management lifted its position in Kronos Worldwide by 4.1% during the 4th quarter. LSV Asset Management now owns 4,567,752 shares of the specialty chemicals company’s stock worth $52,620,000 after acquiring an additional 179,625 shares during the last quarter. BlackRock Inc. lifted its position in Kronos Worldwide by 0.6% during the 1st quarter. BlackRock Inc. now owns 2,177,599 shares of the specialty chemicals company’s stock worth $30,531,000 after acquiring an additional 12,702 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Kronos Worldwide by 10.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,895,844 shares of the specialty chemicals company’s stock worth $26,580,000 after acquiring an additional 180,966 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Kronos Worldwide by 202.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,608,225 shares of the specialty chemicals company’s stock worth $18,526,000 after acquiring an additional 1,075,704 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its position in Kronos Worldwide by 56.3% during the 1st quarter. Advisors Asset Management Inc. now owns 758,323 shares of the specialty chemicals company’s stock worth $10,632,000 after acquiring an additional 273,022 shares during the last quarter. 20.51% of the stock is owned by hedge funds and other institutional investors.
Kronos Worldwide Company Profile
Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. It 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.
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