Barclays Raises Kronos Worldwide (NYSE:KRO) Price Target to $10.00

Kronos Worldwide (NYSE:KRO) had its price target hoisted by Barclays from $9.00 to $10.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the specialty chemicals company’s stock.

Separately, Deutsche Bank Aktiengesellschaft raised their price target on Kronos Worldwide from $12.00 to $15.00 and gave the stock a buy rating in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $12.00.

Kronos Worldwide Price Performance

Kronos Worldwide stock opened at $12.45 on Wednesday. The firm has a market capitalization of $1.43 billion, a PE ratio of -54.13 and a beta of 1.15. Kronos Worldwide has a 52 week low of $6.16 and a 52 week high of $14.50. The firm’s 50-day simple moving average is $11.32 and its 200 day simple moving average is $12.06. The company has a quick ratio of 1.98, a current ratio of 3.61 and a debt-to-equity ratio of 0.55.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings results on Wednesday, August 7th. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.04). Kronos Worldwide had a net margin of 0.11% and a return on equity of 0.24%. The business had revenue of $500.50 million during the quarter, compared to analysts’ expectations of $504.19 million. On average, equities research analysts predict that Kronos Worldwide will post 0.88 EPS for the current fiscal year.

Kronos Worldwide Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, September 6th were issued a $0.05 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.20 annualized dividend and a yield of 1.61%. Kronos Worldwide’s dividend payout ratio (DPR) is presently -86.96%.

Institutional Investors Weigh In On Kronos Worldwide

Several hedge funds have recently made changes to their positions in the business. Quest Partners LLC increased its stake in Kronos Worldwide by 9,905.7% in the second quarter. Quest Partners LLC now owns 8,805 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 8,717 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of Kronos Worldwide during the 2nd quarter valued at about $131,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Kronos Worldwide during the 1st quarter worth about $134,000. XTX Topco Ltd purchased a new position in shares of Kronos Worldwide during the 2nd quarter worth about $175,000. Finally, Sei Investments Co. acquired a new stake in shares of Kronos Worldwide in the second quarter worth approximately $184,000. Institutional investors and hedge funds own 15.11% of the company’s stock.

Kronos Worldwide Company Profile

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.