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

Shares of Kronos Worldwide, Inc. (NYSE:KRO) 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 trading hands.

Analysts Set New Price Targets

Separately, Barclays lifted their target price on Kronos Worldwide from $9.00 to $10.00 and gave the company an “underweight” rating in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. According to MarketBeat, Kronos Worldwide currently has a consensus rating of “Hold” and an average price target of $12.00.

Kronos Worldwide Stock Down 6.0 %

The company has a market capitalization of $1.22 billion, a P/E ratio of 13.11 and a beta of 1.16. The company has a quick ratio of 1.30, a current ratio of 2.68 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $11.83 and a 200-day simple moving average of $12.06.

Kronos Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Friday, November 29th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.20 dividend on an annualized basis and a yield of 1.88%. Kronos Worldwide’s payout ratio is 24.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KRO. First Eagle Investment Management LLC boosted its position in shares of Kronos Worldwide by 136.6% during the second quarter. First Eagle Investment Management LLC now owns 360,677 shares of the specialty chemicals company’s stock worth $4,526,000 after buying an additional 208,256 shares during the period. AQR Capital Management LLC bought a new position in shares of Kronos Worldwide during the 2nd quarter worth approximately $783,000. Allspring Global Investments Holdings LLC acquired a new stake in Kronos Worldwide during the 3rd quarter valued at $1,521,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Kronos Worldwide in the first quarter valued at about $209,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Kronos Worldwide during the 2nd quarter worth about $131,000. Institutional investors own 15.11% of the company’s stock.

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.