Kronos Worldwide, Inc. (NYSE:KRO – Get Free Report) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 752,300 shares, an increase of 7.4% from the June 15th total of 700,700 shares. Based on an average daily volume of 192,700 shares, the days-to-cover ratio is currently 3.9 days. Currently, 3.5% of the company’s shares are sold short.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Barclays upped their price objective on Kronos Worldwide from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Wednesday, May 15th. StockNews.com upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a report on Monday, May 13th. The Goldman Sachs Group lifted their price objective on Kronos Worldwide from $9.00 to $11.00 and gave the company a “sell” rating in a research note on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Kronos Worldwide from $12.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $11.67.
Institutional Investors Weigh In On Kronos Worldwide
Large investors have recently added to or reduced their stakes in the company. Mirador Capital Partners LP lifted its holdings in Kronos Worldwide by 3.0% in the 2nd quarter. Mirador Capital Partners LP now owns 59,762 shares of the specialty chemicals company’s stock worth $750,000 after buying an additional 1,767 shares in the last quarter. Twelve Points Wealth Management LLC lifted its stake in shares of Kronos Worldwide by 4.1% in the second quarter. Twelve Points Wealth Management LLC now owns 35,388 shares of the specialty chemicals company’s stock worth $444,000 after acquiring an additional 1,394 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in Kronos Worldwide in the first quarter valued at about $209,000. Vanguard Group Inc. grew its stake in Kronos Worldwide by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,211,644 shares of the specialty chemicals company’s stock valued at $26,097,000 after purchasing an additional 5,884 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new stake in Kronos Worldwide during the 1st quarter worth approximately $1,799,000. 15.11% of the stock is owned by institutional investors and hedge funds.
Kronos Worldwide Stock Down 19.4 %
NYSE:KRO traded down $2.64 during mid-day trading on Wednesday, hitting $11.00. The company had a trading volume of 1,320,721 shares, compared to its average volume of 233,532. Kronos Worldwide has a 1 year low of $6.16 and a 1 year high of $14.50. The business has a fifty day simple moving average of $13.16 and a 200-day simple moving average of $11.31. The company has a current ratio of 3.68, a quick ratio of 1.90 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -48.00 and a beta of 1.18.
Kronos Worldwide (NYSE:KRO – Get Free Report) last announced its earnings results on Wednesday, May 8th. The specialty chemicals company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $478.80 million for the quarter, compared to the consensus estimate of $454.64 million. Kronos Worldwide had a negative return on equity of 3.13% and a negative net margin of 1.50%. Equities analysts forecast that Kronos Worldwide will post 0.85 earnings per share for the current fiscal year.
Kronos Worldwide Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 10th were given a dividend of $0.19 per share. The ex-dividend date was Monday, June 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.91%. Kronos Worldwide’s payout ratio is currently -330.42%.
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.