Kronos Worldwide (NYSE:KRO) Trading Up 7% - Here's What Happened

Kronos Worldwide, Inc. (NYSE:KRO - Get Free Report) was up 7% during mid-day trading on Tuesday . The company traded as high as $7.02 and last traded at $7.05. Approximately 340,444 shares changed hands during mid-day trading, an increase of 59% from the average daily volume of 214,561 shares. The stock had previously closed at $6.59.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KRO. Wall Street Zen cut Kronos Worldwide from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Barclays reduced their price target on shares of Kronos Worldwide from $10.00 to $7.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group cut their target price on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating on the stock in a research note on Wednesday, May 14th.

Kronos Worldwide Trading Down 2.6%

The company has a current ratio of 2.68, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $775.46 million, a PE ratio of 8.32 and a beta of 1.14. The company has a fifty day simple moving average of $6.98 and a two-hundred day simple moving average of $8.45.

Kronos Worldwide (NYSE:KRO - Get Free Report) last released its earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%. The firm had revenue of $489.80 million for the quarter, compared to analysts' expectations of $466.56 million.

Kronos Worldwide Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Monday, June 9th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.20 annualized dividend and a dividend yield of 2.97%. Kronos Worldwide's dividend payout ratio (DPR) is currently 24.10%.

Institutional Trading of Kronos Worldwide

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in shares of Kronos Worldwide during the 4th quarter worth about $25,000. Quantbot Technologies LP purchased a new stake in shares of Kronos Worldwide during the 1st quarter worth approximately $29,000. KLP Kapitalforvaltning AS acquired a new position in shares of Kronos Worldwide in the 4th quarter valued at $30,000. Aquatic Capital Management LLC grew its position in shares of Kronos Worldwide by 144.8% in the 4th quarter. Aquatic Capital Management LLC now owns 3,183 shares of the specialty chemicals company's stock valued at $31,000 after buying an additional 1,883 shares during the last quarter. Finally, US Bancorp DE raised its stake in Kronos Worldwide by 2,455.6% during the 1st quarter. US Bancorp DE now owns 6,108 shares of the specialty chemicals company's stock worth $46,000 after acquiring an additional 5,869 shares in the last quarter. 15.11% of the stock is currently owned by institutional investors and hedge funds.

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.