Kronos Worldwide (NYSE:KRO) Stock Price Up 5.4% - Here's What Happened

Key Points

• Kronos Worldwide's stock saw a significant rise of 5.4%, closing at $6.34 and experiencing drastic changes in trading volume.
• Analysts have issued negative ratings for Kronos Worldwide, with Barclays and Goldman Sachs lowering their target prices and rating the stock as "sell."
• The company recently declared a quarterly dividend of $0.05, which translates to an annual yield of 3.2% based on its current payout ratio.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report)'s share price traded up 5.4% during mid-day trading on Monday . The company traded as high as $6.21 and last traded at $6.34. 24,619 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 243,764 shares. The stock had previously closed at $6.01.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Kronos Worldwide from $11.00 to $8.50 and set a "sell" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen downgraded shares of Kronos Worldwide from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Finally, 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. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Kronos Worldwide has a consensus rating of "Sell" and a consensus price target of $7.75.

Kronos Worldwide Stock Performance

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 stock's fifty day moving average is $6.06 and its two-hundred day moving average is $7.08. The firm has a market cap of $743.24 million, a price-to-earnings ratio of 11.14 and a beta of 1.09.

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

Kronos Worldwide Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, September 5th. Kronos Worldwide's dividend payout ratio is currently 34.48%.

Hedge Funds Weigh In On Kronos Worldwide

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Caxton Associates LLP bought a new position in Kronos Worldwide in the 2nd quarter valued at about $147,000. Corient Private Wealth LLC bought a new position in Kronos Worldwide in the 2nd quarter valued at about $101,000. Tidal Investments LLC grew its position in Kronos Worldwide by 25.9% in the 2nd quarter. Tidal Investments LLC now owns 60,946 shares of the specialty chemicals company's stock valued at $378,000 after buying an additional 12,547 shares in the last quarter. Tolleson Wealth Management Inc. grew its position in Kronos Worldwide by 9.6% in the 2nd quarter. Tolleson Wealth Management Inc. now owns 32,045 shares of the specialty chemicals company's stock valued at $199,000 after buying an additional 2,800 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Kronos Worldwide by 1,100.3% in the 2nd quarter. Lazard Asset Management LLC now owns 51,555 shares of the specialty chemicals company's stock valued at $319,000 after buying an additional 47,260 shares in the last quarter. Institutional investors own 15.11% of the company's stock.

Kronos Worldwide Company Profile

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.