Kronos Worldwide (NYSE:KRO) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Shares of Kronos Worldwide Inc (NYSE:KRO – Get Free Report) passed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $7.25 and traded as high as $7.83. Kronos Worldwide shares last traded at $7.7920, with a volume of 257,138 shares.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KRO. Wall Street Zen upgraded shares of Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Zacks Research cut shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kronos Worldwide from $6.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 target price on shares of Kronos Worldwide in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Kronos Worldwide in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $8.50.

View Our Latest Research Report on KRO

Kronos Worldwide Stock Up 2.0%

The stock has a market cap of $896.86 million, a PE ratio of -8.20 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.55 and a current ratio of 3.30. The company’s 50-day moving average price is $8.08 and its 200 day moving average price is $7.25.

Kronos Worldwide (NYSE:KRO – Get Free Report) last announced its earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. Kronos Worldwide had a negative net margin of 5.63% and a negative return on equity of 12.28%. The company had revenue of $558.10 million during the quarter, compared to analyst estimates of $484.51 million. As a group, analysts forecast that Kronos Worldwide Inc will post 0.35 EPS for the current fiscal year.

Kronos Worldwide Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Thursday, September 3rd. Kronos Worldwide’s dividend payout ratio (DPR) is currently -21.05%.

Institutional Investors Weigh In On Kronos Worldwide

Hedge funds have recently modified their holdings of the business. Group One Trading LLC purchased a new stake in shares of Kronos Worldwide in the 2nd quarter worth $41,000. Wealthspire Retirement LLC purchased a new position in Kronos Worldwide during the first quarter valued at $66,000. IMC Chicago LLC purchased a new position in Kronos Worldwide during the second quarter valued at $65,000. Algert Global LLC lifted its position in Kronos Worldwide by 87.9% during the second quarter. Algert Global LLC now owns 22,150 shares of the specialty chemicals company’s stock valued at $140,000 after purchasing an additional 10,360 shares in the last quarter. Finally, Abel Hall LLC bought a new stake in Kronos Worldwide during the first quarter valued at about $80,000. Institutional investors own 15.11% of the company’s stock.

About Kronos Worldwide

(Get Free Report)

Kronos Worldwide, Inc (NYSE:KRO) is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.

Further Reading

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