Kronos Worldwide (NYSE:KRO) Stock Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Kronos Worldwide shares crossed above their 200-day moving average, reaching $7.55 before closing at $7.385, compared with the 200-day average of $7.21.
• Analyst sentiment remains mixed: Deutsche Bank raised its price target to $9 and rated the stock a buy, while Goldman Sachs and Weiss Ratings maintained sell views. The consensus rating is “Reduce,” with an average target price of $8.50.
• The company exceeded quarterly expectations, reporting $0.13 in earnings per share versus a $0.07 estimate and revenue of $558.1 million. Kronos also maintains a quarterly dividend of $0.05 per share, yielding about 2.7% annually.

Kronos Worldwide Inc (NYSE:KRO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $7.21 and traded as high as $7.55. Kronos Worldwide shares last traded at $7.3850, with a volume of 454,885 shares traded.

Wall Street Analysts Forecast Growth

KRO has been the subject of several recent analyst reports. Weiss Ratings restated a "sell (d+)" rating on shares of Kronos Worldwide in a research note on Tuesday, October 6th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kronos Worldwide from $6.00 to $9.00 and gave the company a "buy" rating in a report on Tuesday, August 25th. The Goldman Sachs Group reiterated a "sell" rating and set a $8.00 price target on shares of Kronos Worldwide in a research note on Thursday, August 13th. Wall Street Zen raised shares of Kronos Worldwide from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 16th. Finally, Zacks Research cut shares of Kronos Worldwide from a "strong-buy" rating to a "hold" rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $8.50.

Kronos Worldwide Price Performance

The stock has a fifty day moving average of $8.18 and a two-hundred day moving average of $7.21. The stock has a market cap of $850.01 million, a price-to-earnings ratio of -7.77 and a beta of 1.10. The company has a quick ratio of 1.55, a current ratio of 3.30 and a debt-to-equity ratio of 0.76.

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

Kronos Worldwide Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 2.7%. Kronos Worldwide's payout ratio is currently -21.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Kronos Worldwide in the second quarter valued at about $10,886,000. Bank of New York Mellon Corp acquired a new stake in shares of Kronos Worldwide during the 2nd quarter valued at approximately $5,030,000. PDT Partners LLC purchased a new stake in shares of Kronos Worldwide during the 2nd quarter worth approximately $1,336,000. Dayah Capital LLC purchased a new stake in shares of Kronos Worldwide during the 2nd quarter worth approximately $878,000. Finally, Monaco Asset Management SAM purchased a new stake in shares of Kronos Worldwide during the 2nd quarter worth approximately $964,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.

Kronos Worldwide Company Profile

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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