Kronos Worldwide Inc (KRO) Trading 7.6% Higher After Analyst Upgrade
Kronos Worldwide Inc (NYSE:KRO) traded up 7.6% during mid-day trading on Friday after Barclays PLC raised their price target on the stock from $15.00 to $17.00. Barclays PLC currently has an underweight rating on the stock. Kronos Worldwide traded as high as $19.71 and last traded at $19.50, with a volume of 1,234,022 shares changing hands. The stock had previously closed at $18.12.
A number of other brokerages have also issued reports on KRO. BidaskClub raised shares of Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Friday, July 28th. Finally, ValuEngine raised shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $20.50.
In other news, insider Benjiman R. Corona sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $18.35, for a total transaction of $36,700.00. Following the transaction, the insider now owns 500 shares in the company, valued at approximately $9,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 1060 Capital LLC acquired a new position in Kronos Worldwide during the first quarter worth $17,241,000. Tudor Investment Corp ET AL increased its position in Kronos Worldwide by 114.5% in the first quarter. Tudor Investment Corp ET AL now owns 69,337 shares of the specialty chemicals company’s stock worth $1,139,000 after buying an additional 37,010 shares in the last quarter. Acadian Asset Management LLC increased its position in Kronos Worldwide by 455.4% in the first quarter. Acadian Asset Management LLC now owns 363,801 shares of the specialty chemicals company’s stock worth $5,978,000 after buying an additional 298,300 shares in the last quarter. Nationwide Fund Advisors increased its position in Kronos Worldwide by 10.0% in the first quarter. Nationwide Fund Advisors now owns 14,573 shares of the specialty chemicals company’s stock worth $239,000 after buying an additional 1,326 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new position in Kronos Worldwide during the fourth quarter worth $184,000. Institutional investors and hedge funds own 14.37% of the company’s stock.
The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 8.11 and a beta of 2.10. The firm’s 50-day moving average price is $19.63 and its 200-day moving average price is $17.00.
Kronos Worldwide (NYSE:KRO) last announced its earnings results on Monday, May 8th. The specialty chemicals company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.08. Kronos Worldwide had a net margin of 18.57% and a return on equity of 24.73%. The business had revenue of $369.80 million during the quarter, compared to analysts’ expectations of $350 million. During the same quarter in the prior year, the company posted ($0.03) earnings per share. The firm’s revenue was up 16.1% on a year-over-year basis. Analysts forecast that Kronos Worldwide Inc will post $1.07 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Tuesday, September 5th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, August 31st. Kronos Worldwide’s payout ratio is 24.90%.
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Kronos Worldwide Company Profile
Kronos Worldwide, Inc (Kronos) is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products with sales in Europe and North America.
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