Kronos Worldwide Inc. (KRO) Stock Price Up 1.9%
Kronos Worldwide Inc. (NYSE:KRO) rose 1.9% during mid-day trading on Thursday . The stock traded as high as $5.15 and last traded at $4.91, with a volume of 302,672 shares traded. The stock had previously closed at $4.82.
Separately, Zacks Investment Research upgraded shares of Kronos Worldwide from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a research report on Tuesday, June 21st.
The company’s market capitalization is $609.53 million. The firm’s 50 day moving average price is $5.60 and its 200 day moving average price is $5.59.
Kronos Worldwide (NYSE:KRO) last posted its quarterly earnings results on Friday, May 6th. The company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.10. During the same period last year, the company earned $0.16 earnings per share. The company had revenue of $318.40 million for the quarter, compared to analyst estimates of $308.50 million. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Kronos Worldwide Inc. will post $0.04 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Monday, June 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, June 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 11.41%.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its position in Kronos Worldwide by 64.7% in the fourth quarter. Morgan Stanley now owns 267,530 shares of the company’s stock worth $1,509,000 after buying an additional 105,140 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Kronos Worldwide by 13.0% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 306,720 shares of the company’s stock worth $1,730,000 after buying an additional 35,219 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Kronos Worldwide by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,266,681 shares of the company’s stock worth $7,144,000 after buying an additional 23,748 shares during the period.
Kronos Worldwide, Inc is a producer and marketer of titanium dioxide (TiO2) pigments, a base industrial product that is used in a range of applications. The Company, along with its distributors and agents, sells and provides technical services for its products in approximately 100 countries with sales in Europe and North America.
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