Kronos Worldwide (NYSE:KRO) Shares Break Above 200 Day Moving Average - Here's Why

Key Points

• Kronos Worldwide shares broke above their 200-day moving average, reaching $7.86 before closing at $7.79, compared with a 200-day average of $7.15.
• Analyst sentiment remains mixed: Deutsche Bank upgraded the stock to “buy” with a $9 price target, while Goldman Sachs maintained a “sell” rating. The overall consensus is “Reduce,” with an $8.50 price target.
• The company beat quarterly earnings and revenue estimates, reporting $0.13 in EPS and $558.1 million in revenue, while maintaining a quarterly dividend of $0.05 per share, equal to a 2.6% yield.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $7.15 and traded as high as $7.86. Kronos Worldwide shares last traded at $7.79, with a volume of 213,870 shares changing hands.

Analyst Upgrades and Downgrades

KRO has been the subject of several recent research reports. Wall Street Zen raised Kronos Worldwide from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. The Goldman Sachs Group reaffirmed a "sell" rating and issued a $8.00 price objective on shares of Kronos Worldwide in a research note on Thursday, August 13th. Zacks Research cut Kronos Worldwide from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 14th. Weiss Ratings upgraded Kronos Worldwide from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Kronos Worldwide from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Kronos Worldwide has a consensus rating of "Reduce" and a consensus price target of $8.50.

Kronos Worldwide Price Performance

The company has a current ratio of 3.30, a quick ratio of 1.55 and a debt-to-equity ratio of 0.76. The firm has a market cap of $896.63 million, a PE ratio of -8.20 and a beta of 1.10. The stock has a 50 day simple moving average of $8.06 and a 200-day simple moving average of $7.15.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The specialty chemicals company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.06. The business had revenue of $558.10 million for the quarter, compared to analysts' expectations of $484.51 million. Kronos Worldwide had a negative return on equity of 12.28% and a negative net margin of 5.63%. Equities 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 announced a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Thursday, September 3rd. Kronos Worldwide's dividend payout ratio (DPR) is -21.05%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRO. BlackRock Inc. bought a new stake in shares of Kronos Worldwide during the second quarter valued at approximately $10,886,000. Bank of New York Mellon Corp bought a new position in shares of Kronos Worldwide during the second quarter worth $5,030,000. Bank of America Corp DE bought a new position in shares of Kronos Worldwide during the second quarter worth $2,742,000. PDT Partners LLC purchased a new position in Kronos Worldwide during the second quarter valued at $1,336,000. Finally, Monaco Asset Management SAM purchased a new position in Kronos Worldwide during the second quarter valued at $964,000. 15.11% of the stock is currently owned by institutional investors.

About Kronos Worldwide

Kronos Worldwide, Inc is a global producer and marketer of titanium dioxide (TiO2) pigments, which are used to provide whiteness, brightness, opacity and durability in a wide range of products. Its pigments are sold primarily to manufacturers of paints and coatings, plastics, paper and other specialty applications.

The company produces titanium dioxide using chloride and sulfate process technologies and supplies customers through operations and commercial activities in North America and Europe.

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