Kronos Worldwide (NYSE:KRO) Shares Gap Down – Here’s Why

Kronos Worldwide, Inc. (NYSE:KRO)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $11.31, but opened at $11.06. Kronos Worldwide shares last traded at $10.75, with a volume of 86,686 shares changing hands.

Wall Street Analyst Weigh In

Separately, Barclays increased their price objective on shares of Kronos Worldwide from $9.00 to $10.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Kronos Worldwide Price Performance

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 12.80 and a beta of 1.13. The company has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $12.04.

Kronos Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be issued a $0.05 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.93%. Kronos Worldwide’s dividend payout ratio (DPR) is presently 24.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Twelve Points Wealth Management LLC increased its stake in shares of Kronos Worldwide by 2.5% in the third quarter. Twelve Points Wealth Management LLC now owns 36,289 shares of the specialty chemicals company’s stock valued at $452,000 after purchasing an additional 901 shares during the period. Rhumbline Advisers increased its position in Kronos Worldwide by 3.7% in the 2nd quarter. Rhumbline Advisers now owns 32,817 shares of the specialty chemicals company’s stock valued at $412,000 after acquiring an additional 1,162 shares during the period. Mirador Capital Partners LP boosted its position in Kronos Worldwide by 3.0% during the 2nd quarter. Mirador Capital Partners LP now owns 59,762 shares of the specialty chemicals company’s stock worth $750,000 after acquiring an additional 1,767 shares during the period. nVerses Capital LLC increased its holdings in shares of Kronos Worldwide by 83.3% during the third quarter. nVerses Capital LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 2,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kronos Worldwide by 2.2% during the third 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 in the last quarter. 15.11% of the stock is owned by institutional investors and hedge funds.

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.