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

Kronos Worldwide Inc (NYSE:KRO)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $6.96 and traded as high as $8.58. Kronos Worldwide shares last traded at $8.4580, with a volume of 270,023 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on KRO shares. Weiss Ratings upgraded shares of Kronos Worldwide from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 10th. The Goldman Sachs Group reiterated a “sell” rating and set a $8.00 price objective on shares of Kronos Worldwide in a research report on Thursday, August 13th. Wall Street Zen raised Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 16th. Deutsche Bank Aktiengesellschaft raised their target price on Kronos Worldwide from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Finally, Zacks Research downgraded Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $8.50.

Kronos Worldwide Stock Performance

The stock has a market cap of $949.58 million, a price-to-earnings ratio of -8.68 and a beta of 1.08. The company’s 50 day simple moving average is $7.81 and its 200 day simple moving average is $6.98. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.55 and a current ratio of 3.30.

Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates 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. On average, equities research analysts anticipate that Kronos Worldwide Inc will post 0.35 earnings per share for the current year.

Kronos Worldwide Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, September 3rd. Kronos Worldwide’s dividend payout ratio is -21.05%.

Hedge Funds Weigh In On Kronos Worldwide

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

About Kronos Worldwide

Kronos Worldwide, Inc (NYSE:KRO) is a global producer and marketer of titanium dioxide (TiO?) pigments. Its products are used to provide whiteness, opacity, brightness and durability in a broad range of applications, including paints and coatings, plastics, paper, printing inks and other specialty products.

The company also produces titanium chemicals and coproducts, including iron salts and other materials generated through its manufacturing processes. Kronos sells its products primarily to industrial customers and serves markets in North America, Europe and other international regions.

Kronos Worldwide traces its operating history to the early 20th century and is headquartered in Dallas, Texas.