Kronos Worldwide, Inc. (NYSE:KRO) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Investors of record on Tuesday, September 4th will be paid a dividend of 0.17 per share by the specialty chemicals company on Thursday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, August 31st.
Kronos Worldwide has a payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Kronos Worldwide to earn $2.81 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 24.2%.
KRO stock traded down $0.36 during trading on Wednesday, reaching $22.22. 1,188,251 shares of the company traded hands, compared to its average volume of 459,983. Kronos Worldwide has a 12 month low of $17.11 and a 12 month high of $29.49. The company has a market cap of $2.57 billion, a P/E ratio of 11.82, a PEG ratio of 1.49 and a beta of 2.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.58 and a quick ratio of 2.93.
Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings data on Tuesday, August 7th. The specialty chemicals company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.10). Kronos Worldwide had a net margin of 21.70% and a return on equity of 38.70%. The company had revenue of $471.80 million for the quarter. analysts anticipate that Kronos Worldwide will post 2.97 EPS for the current year.
A number of equities research analysts recently weighed in on KRO shares. Deutsche Bank raised Kronos Worldwide from a “hold” rating to a “buy” rating and raised their price objective for the company from $8.00 to $28.00 in a research report on Wednesday, May 23rd. Zacks Investment Research downgraded Kronos Worldwide from a “buy” rating to a “sell” rating in a research report on Wednesday, May 16th. ValuEngine downgraded Kronos Worldwide from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $24.00 price objective on shares of Kronos Worldwide in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $25.50.
About Kronos Worldwide
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, such as paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, food, and cosmetics.
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