Kronos Worldwide (NYSE:KRO) Sees Large Volume Increase - Should You Buy?

Key Points

• Kronos Worldwide (NYSE:KRO) experienced a significant 63% increase in trading volume on Thursday, with 391,693 shares traded compared to the previous session.
• Analysts have downgraded Kronos Worldwide, with Barclays lowering its price target to $7.00 and designating an "underweight" rating, while Wall Street Zen has reduced its rating from "hold" to "sell".
• The company recently reported a quarterly loss of ($0.08) per share, missing the consensus estimate, alongside a revenue of $494.40 million that also fell short of expectations.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) shares saw strong trading volume on Thursday . 391,693 shares changed hands during mid-day trading, an increase of 63% from the previous session's volume of 239,574 shares.The stock last traded at $6.29 and had previously closed at $6.03.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KRO. Barclays reduced their price target on Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, May 28th. Wall Street Zen cut Kronos Worldwide from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group reduced their price objective on Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating for the company in a report on Wednesday, May 14th.

Kronos Worldwide Stock Performance

The company's 50 day moving average price is $6.13 and its 200-day moving average price is $7.23. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.04 and a current ratio of 2.79. The company has a market cap of $704.68 million, a PE ratio of 10.59 and a beta of 1.09.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The specialty chemicals company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.21). The business had revenue of $494.40 million during the quarter, compared to the consensus estimate of $508.47 million. Kronos Worldwide had a return on equity of 8.04% and a net margin of 3.57%.

Kronos Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.3%. Kronos Worldwide's dividend payout ratio (DPR) is presently 34.48%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in shares of Kronos Worldwide by 365.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 53,255 shares of the specialty chemicals company's stock valued at $398,000 after purchasing an additional 41,805 shares during the period. Bank of America Corp DE raised its stake in shares of Kronos Worldwide by 58.0% during the fourth quarter. Bank of America Corp DE now owns 279,891 shares of the specialty chemicals company's stock valued at $2,729,000 after acquiring an additional 102,794 shares in the last quarter. Millennium Management LLC lifted its position in shares of Kronos Worldwide by 55.8% in the 4th quarter. Millennium Management LLC now owns 192,469 shares of the specialty chemicals company's stock worth $1,877,000 after purchasing an additional 68,959 shares during the period. Allworth Financial LP lifted its position in shares of Kronos Worldwide by 260.5% in the 1st quarter. Allworth Financial LP now owns 68,501 shares of the specialty chemicals company's stock worth $528,000 after purchasing an additional 49,501 shares during the period. Finally, Luminus Management LLC purchased a new stake in shares of Kronos Worldwide in the 4th quarter worth approximately $2,538,000. Hedge funds and other institutional investors own 15.11% of the company's stock.

About Kronos Worldwide

Kronos Worldwide, Inc produces and markets titanium dioxide pigments (TiO2) in Europe, North America, the Asia Pacific, and internationally. The company produces TiO2 in two crystalline forms, rutile and anatase to impart whiteness, brightness, opacity, and durability for various products, including paints, coatings, plastics, paper, fibers, and ceramics, as well as for various specialty products, such as inks, foods, and cosmetics.

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