Kronos Worldwide (NYSE:KRO) Stock Price Breaks Above 200 Day Moving Average – Here’s Why

Kronos Worldwide Inc (NYSE:KRO)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.15 and traded as high as $7.86. Kronos Worldwide shares last traded at $7.79, with a volume of 213,870 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Kronos Worldwide in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on Kronos Worldwide from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Wall Street Zen raised Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 16th. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 price objective on shares of Kronos Worldwide in a research note on Thursday, August 13th. Finally, Zacks Research lowered shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Kronos Worldwide has an average rating of “Reduce” and an average target price of $8.50.

Kronos Worldwide Stock Performance

The firm has a market capitalization of $877.39 million, a price-to-earnings ratio of -8.02 and a beta of 1.10. The company has a current ratio of 3.30, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76. The stock’s 50-day moving average is $8.09 and its 200-day moving average is $7.16.

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

Kronos Worldwide Dividend Announcement

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

Institutional Investors Weigh In On Kronos Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of KRO. Group One Trading LLC acquired a new stake in Kronos Worldwide in the second quarter valued at $41,000. Wealthspire Retirement LLC bought a new position in Kronos Worldwide during the 1st quarter worth $66,000. IMC Chicago LLC acquired a new position in Kronos Worldwide during the 2nd quarter worth about $65,000. Algert Global LLC lifted its holdings in Kronos Worldwide by 87.9% during the 2nd quarter. Algert Global LLC now owns 22,150 shares of the specialty chemicals company’s stock worth $140,000 after buying an additional 10,360 shares during the period. Finally, Abel Hall LLC bought a new stake in shares of Kronos Worldwide in the 1st quarter valued at about $80,000. Institutional investors own 15.11% of the company’s stock.

About Kronos Worldwide

Kronos Worldwide, Inc is a global producer and marketer of titanium dioxide (TiO2) pigments, which are used to provide whiteness, brightness, opacity and durability in a wide range of products. Its pigments are sold primarily to manufacturers of paints and coatings, plastics, paper and other specialty applications.

The company produces titanium dioxide using chloride and sulfate process technologies and supplies customers through operations and commercial activities in North America and Europe.