Zacks Investment Research upgraded shares of Kronos Worldwide Inc. (NYSE:KRO) from a hold rating to a buy rating in a report published on Wednesday morning. They currently have $9.25 price objective on the stock.
According to Zacks, “KRONOS WORLDWIDE, INC. is a global producer and marketer of value-added titanium dioxide pigments. The Company along with its distributors and agents, sells and provides technical services for its products to over 4,000 customers in approximately 100 countries with the majority of sales in Europe and North America. “
Separately, TheStreet raised shares of Kronos Worldwide from a sell rating to a hold rating in a research note on Tuesday, August 30th.
Shares of Kronos Worldwide (NYSE:KRO) opened at 8.29 on Wednesday. The stock has a 50 day moving average of $8.17 and a 200 day moving average of $6.45. Kronos Worldwide has a 12-month low of $3.94 and a 12-month high of $9.21. The company’s market cap is $960.76 million.
Kronos Worldwide (NYSE:KRO) last announced its earnings results on Friday, August 5th. The company reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The company had revenue of $356.10 million for the quarter, compared to analysts’ expectations of $334 million. Kronos Worldwide had a negative return on equity of 5.63% and a negative net margin of 2.64%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the business earned ($1.38) EPS. Analysts forecast that Kronos Worldwide will post $0.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Tuesday, September 6th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.60 dividend on an annualized basis and a yield of 7.24%. Kronos Worldwide’s dividend payout ratio is currently -199.99%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sei Investments Co. boosted its stake in Kronos Worldwide by 159,575.0% in the second quarter. Sei Investments Co. now owns 19,161 shares of the company’s stock worth $101,000 after buying an additional 19,149 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of Kronos Worldwide by 6.0% in the second quarter. Teachers Advisors Inc. now owns 31,997 shares of the company’s stock worth $168,000 after buying an additional 1,800 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Kronos Worldwide by 161.3% in the second quarter. Alliancebernstein L.P. now owns 32,400 shares of the company’s stock worth $170,000 after buying an additional 20,000 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Kronos Worldwide during the second quarter worth approximately $180,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Kronos Worldwide by 6.5% in the second quarter. Parametric Portfolio Associates LLC now owns 35,624 shares of the company’s stock worth $187,000 after buying an additional 2,172 shares during the last quarter. Institutional investors own 13.50% of the company’s stock.
About Kronos Worldwide
Kronos Worldwide, Inc 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 in approximately 100 countries with sales in Europe and North America.
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