Barclays Raises Kronos Worldwide (NYSE:KRO) Price Target to $8.00

Kronos Worldwide (NYSE:KRO) had its price objective hoisted by Barclays from $7.00 to $8.00 in a research report report published on Tuesday, Benzinga reports. They currently have an underweight rating on the specialty chemicals company’s stock.

A number of other research analysts have also commented on KRO. TheStreet raised Kronos Worldwide from a d+ rating to a c- rating in a report on Monday, March 11th. StockNews.com raised Kronos Worldwide from a sell rating to a hold rating in a report on Monday, February 26th. Finally, The Goldman Sachs Group upped their price objective on Kronos Worldwide from $7.00 to $8.00 and gave the company a sell rating in a report on Thursday, December 14th.

Kronos Worldwide Stock Down 1.5 %

KRO stock opened at $11.80 on Tuesday. The company has a current ratio of 3.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.36 billion, a PE ratio of -27.44 and a beta of 1.17. Kronos Worldwide has a 1-year low of $6.16 and a 1-year high of $12.33. The business’s 50 day simple moving average is $9.82 and its 200 day simple moving average is $8.83.

Kronos Worldwide (NYSE:KRO) last posted its earnings results on Wednesday, March 6th. The specialty chemicals company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The business had revenue of $400.10 million for the quarter, compared to analyst estimates of $404.94 million. Kronos Worldwide had a negative return on equity of 5.73% and a negative net margin of 2.95%. As a group, research analysts anticipate that Kronos Worldwide will post 0.33 EPS for the current year.

Kronos Worldwide Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Tuesday, March 5th were given a dividend of $0.19 per share. The ex-dividend date was Monday, March 4th. This represents a $0.76 annualized dividend and a dividend yield of 6.44%. Kronos Worldwide’s dividend payout ratio is currently -176.74%.

Institutional Trading of Kronos Worldwide

Several institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. increased its stake in shares of Kronos Worldwide by 111.8% in the third quarter. Citigroup Inc. now owns 53,275 shares of the specialty chemicals company’s stock valued at $413,000 after buying an additional 28,117 shares during the period. Bank of New York Mellon Corp lifted its holdings in Kronos Worldwide by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,106,941 shares of the specialty chemicals company’s stock worth $8,579,000 after acquiring an additional 9,924 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Kronos Worldwide by 24.9% during the third quarter. Janney Montgomery Scott LLC now owns 35,011 shares of the specialty chemicals company’s stock worth $271,000 after acquiring an additional 6,979 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Kronos Worldwide in the third quarter worth $348,000. Finally, Verdence Capital Advisors LLC increased its position in Kronos Worldwide by 215.3% in the third quarter. Verdence Capital Advisors LLC now owns 40,204 shares of the specialty chemicals company’s stock worth $312,000 after buying an additional 27,452 shares during the last quarter. 15.11% of the stock is currently owned by institutional investors.

About Kronos Worldwide

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.