Kronos Worldwide (NYSE:KRO) Shares Pass Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Kronos Worldwide shares crossed above their 200-day moving average, reaching $8.40 before closing at $8.185, up 1.7%. The stock’s 200-day average is $6.85.
• Analyst sentiment remains cautious: the consensus rating is “Reduce” with an $8.50 price target, while ratings include one Buy, one Hold and two Sells.
• Kronos exceeded quarterly expectations, reporting $0.13 in earnings per share versus a $0.07 estimate and $558.1 million in revenue. The company also announced a quarterly dividend of $0.05 per share, yielding approximately 2.4% annually.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.85 and traded as high as $8.40. Kronos Worldwide shares last traded at $8.1850, with a volume of 370,749 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. The Goldman Sachs Group reiterated a "sell" rating and issued a $8.00 price target on shares of Kronos Worldwide in a research report on Thursday, August 13th. Wall Street Zen upgraded Kronos Worldwide from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Zacks Research lowered Kronos Worldwide from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Weiss Ratings upgraded Kronos Worldwide from a "sell (d)" rating to a "sell (d+)" rating in a report 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 company a "buy" rating in a research report on Tuesday, August 25th. One 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, the stock has an average rating of "Reduce" and a consensus target price of $8.50.

Kronos Worldwide Stock Up 1.7%

The company has a quick ratio of 1.55, a current ratio of 3.30 and a debt-to-equity ratio of 0.76. The stock's 50-day simple moving average is $7.54 and its 200 day simple moving average is $6.85. The firm has a market cap of $942.09 million, a P/E ratio of -8.62 and a beta of 1.08.

Kronos Worldwide (NYSE:KRO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The specialty chemicals company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. Kronos Worldwide had a negative return on equity of 12.28% and a negative net margin of 5.63%.The firm had revenue of $558.10 million during the quarter, compared to analyst estimates of $484.51 million. As a group, research analysts forecast that Kronos Worldwide Inc will post 0.35 EPS for the current fiscal year.

Kronos Worldwide Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, September 3rd will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Thursday, September 3rd. Kronos Worldwide's payout ratio is presently -21.05%.

Hedge Funds Weigh In On Kronos Worldwide

Several institutional investors have recently added to or reduced their stakes in the business. Group One Trading LLC acquired a new stake in shares of Kronos Worldwide during the 2nd quarter worth approximately $41,000. Wealthspire Retirement LLC acquired a new position in shares of Kronos Worldwide during the 1st quarter valued at $66,000. IMC Chicago LLC bought a new position in Kronos Worldwide during the second quarter worth $65,000. Abel Hall LLC bought a new position in Kronos Worldwide during the first quarter worth $80,000. Finally, Alpine Global Management LLC acquired a new stake in Kronos Worldwide in the fourth quarter worth $54,000. 15.11% of the stock is owned by institutional investors and hedge funds.

About Kronos Worldwide

Kronos Worldwide, Inc NYSE: KRO is a global producer and marketer of titanium dioxide (TiO₂) pigments. Its products are used to provide whiteness, opacity, brightness and durability in a broad range of applications, including paints and coatings, plastics, paper, printing inks and other specialty products.

The company also produces titanium chemicals and coproducts, including iron salts and other materials generated through its manufacturing processes. Kronos sells its products primarily to industrial customers and serves markets in North America, Europe and other international regions.

Kronos Worldwide traces its operating history to the early 20th century and is headquartered in Dallas, Texas.

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