Kronos Worldwide (NYSE:KRO) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of Kronos Worldwide (NYSE:KRO) from a strong-buy rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

A number of other equities research analysts also recently weighed in on KRO. Weiss Ratings reissued a “sell (d+)” rating on shares of Kronos Worldwide in a research note on Tuesday, October 6th. Zacks Research lowered shares of Kronos Worldwide from a “strong-buy” rating to a “hold” rating in a report on Friday, August 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kronos Worldwide from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Finally, 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. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Kronos Worldwide currently has an average rating of “Reduce” and an average price target of $8.50.

Kronos Worldwide Price Performance

Shares of KRO stock opened at $8.12 on Friday. The stock has a 50-day moving average price of $7.89 and a 200 day moving average price of $6.92. 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 firm has a market cap of $934.04 million, a price-to-earnings ratio of -24.59 and a beta of 1.11. Kronos Worldwide has a 12 month low of $4.28 and a 12 month high of $9.17.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings data on Thursday, November 5th. The specialty chemicals company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.11. Kronos Worldwide had a negative return on equity of 12.28% and a negative net margin of 5.63%. The firm had revenue of $541.10 million during the quarter, compared to analysts’ expectations of $537.40 million. Research analysts expect that Kronos Worldwide will post 0.35 EPS for the current year.

Kronos Worldwide Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Thursday, November 19th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $0.20 annualized dividend and a yield of 2.5%. Kronos Worldwide’s dividend payout ratio is presently -60.61%.

Hedge Funds Weigh In On Kronos Worldwide

Several institutional investors have recently modified their holdings of KRO. Group One Trading LLC bought a new stake in shares of Kronos Worldwide in the 2nd quarter valued at about $41,000. Wealthspire Retirement LLC bought a new position in Kronos Worldwide during the 1st quarter worth approximately $66,000. IMC Chicago LLC acquired a new position in Kronos Worldwide during the second quarter valued at approximately $65,000. Abel Hall LLC acquired a new position in Kronos Worldwide during the first quarter valued at approximately $80,000. Finally, Engineers Gate Manager LP acquired a new position in Kronos Worldwide during the second quarter valued at approximately $101,000. 15.11% of the stock is currently owned by institutional investors and hedge funds.

Kronos Worldwide Company Profile

Kronos Worldwide, Inc (NYSE:KRO) is a global producer and marketer of titanium dioxide (TiO2) pigments. Its products are sold primarily under the KRONOS brand and are used to provide whiteness, opacity, brightness and protection in paints and coatings, plastics, paper and other manufactured products.

The company also produces certain specialty chemicals, including iron-based products and related inorganic chemicals. Kronos serves industrial customers through manufacturing and distribution operations in North America and Europe, with products marketed to customers in markets around the world.

Kronos Worldwide traces its roots to the early development of commercial titanium dioxide production and is part of the Valhi, Inc corporate family.