Kronos Worldwide (NYSE:KRO) Shares Cross Above 50 Day Moving Average – Here’s What Happened

Shares of Kronos Worldwide Inc (NYSE:KRO) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $7.89 and traded as high as $8.27. Kronos Worldwide shares last traded at $8.1150, with a volume of 684,034 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Kronos Worldwide from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings lowered shares of Kronos Worldwide from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Monday. The Goldman Sachs Group reaffirmed a “sell” rating and set a $8.00 price target on shares of Kronos Worldwide in a research note on Thursday, August 13th. Deutsche Bank lifted their price target on shares of Kronos Worldwide from $6.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, August 25th. Finally, Zacks Research cut shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Kronos Worldwide currently has a consensus rating of “Reduce” and a consensus target price of $8.50.

Kronos Worldwide Trading Up 3.3%

The stock has a market capitalization of $977.31 million, a price-to-earnings ratio of -25.73 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.30 and a quick ratio of 1.63. The business’s 50-day simple moving average is $7.88 and its two-hundred day simple moving average is $6.95.

Kronos Worldwide (NYSE:KRO) last released its quarterly earnings data on Thursday, November 5th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.11. Kronos Worldwide had a negative net margin of 1.85% and a negative return on equity of 4.96%. The company had revenue of $541.10 million during the quarter, compared to analyst estimates of $537.40 million. On average, research analysts anticipate that Kronos Worldwide Inc will post 0.35 earnings per share for the current fiscal year.

Kronos Worldwide Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Thursday, November 19th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Thursday, November 19th. Kronos Worldwide’s dividend payout ratio is -60.61%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Kronos Worldwide in the second quarter valued at about $10,886,000. Bank of New York Mellon Corp purchased a new position in Kronos Worldwide in the 2nd quarter worth approximately $5,030,000. Bank of America Corp DE purchased a new position in Kronos Worldwide in the 2nd quarter worth approximately $2,742,000. PDT Partners LLC purchased a new position in Kronos Worldwide in the 2nd quarter worth approximately $1,336,000. Finally, Monaco Asset Management SAM acquired a new stake in Kronos Worldwide in the second quarter valued at approximately $964,000. Institutional investors and hedge funds own 15.11% of the company’s stock.

About Kronos Worldwide

Kronos Worldwide, Inc. is a global producer of titanium dioxide (TiO₂) pigments, which make products whiter, brighter and more opaque. Its pigments are used in paints and coatings, plastics, paper and other applications. The company also produces related products, including iron-based chemicals and other materials generated through its manufacturing processes. Kronos serves customers around the world, with operations in North America and Europe. Kronos traces its roots to the early development of commercial titanium dioxide production in the United States.