Valhi: Biggest drop in 15 months on secondary stock sale, weak results
12/03/2019 17:14
** Valhi Inc shares VHI.N tumble ~27 pct after the holding
co files for sale of 14.4 mln shares by majority owned unit NL
Industries NL.N urn:newsml:reuters.com:*:nFWN20Y0VJ
** Also reports slump in Q4 profit to $22.3 mln from $141.1
mln on weak results in chemical unit urn:newsml:reuters.com:*:nGNX173Df
** VHI on pace for biggest one-day pct drop since Dec. 2017,
with trading vol of ~911k shares triple 25-day moving avg
** Valhi also majority owner of Kronos Worldwide KRO.N ,
which makes titanium dioxide (TiO2) pigment used in paints, etc
** Kronos shares slide 5.3 pct after Q4 income halves on
lower production, sales and ASPs and higher raw materials and
other costs urn:newsml:reuters.com:*:nASB01BOZ
** Shares of NL, which also has a stake in Kronos, down 3.7
pct after also reporting a sharp drop in Q4 profit on lower
income from Kronos urn:newsml:reuters.com:*:nASB01BOZ
** Shares of CompX CIX.A , majority-owned by Valhi and in
which NL has a stake, eke out a 0.1 pct gain
(Reporting by Savio D'Souza)
((RM:savio.dsouza.thomsonreuters.com@reuters.net))