Kronos Worldwide (NYSE:KRO) Given New $8.50 Price Target at The Goldman Sachs Group

Kronos Worldwide (NYSE:KRO) had its price target decreased by The Goldman Sachs Group from $11.00 to $8.50 in a report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a sell rating on the specialty chemicals company’s stock.

Separately, StockNews.com upgraded shares of Kronos Worldwide from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th.

Kronos Worldwide Stock Performance

Shares of KRO stock opened at $7.17 on Wednesday. Kronos Worldwide has a 12-month low of $6.19 and a 12-month high of $14.50. The firm has a market capitalization of $824.81 million, a price-to-earnings ratio of 8.85 and a beta of 1.22. The business has a 50 day simple moving average of $7.35 and a 200 day simple moving average of $9.13. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.68 and a quick ratio of 1.30.

Kronos Worldwide (NYSE:KRO) last announced its quarterly earnings results on Wednesday, May 7th. The specialty chemicals company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $489.80 million for the quarter, compared to analyst estimates of $466.56 million. Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%.

Kronos Worldwide Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Monday, June 9th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.79%. Kronos Worldwide’s dividend payout ratio (DPR) is 24.10%.

Insider Activity

In other news, Director Kevin B. Kramer acquired 14,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $7.43 per share, for a total transaction of $104,020.00. Following the completion of the acquisition, the director now directly owns 21,460 shares in the company, valued at $159,447.80. This represents a 187.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. State of Wyoming lifted its holdings in Kronos Worldwide by 258.2% in the 1st quarter. State of Wyoming now owns 18,021 shares of the specialty chemicals company’s stock valued at $135,000 after acquiring an additional 12,990 shares during the last quarter. Trexquant Investment LP raised its holdings in shares of Kronos Worldwide by 67.1% in the 1st quarter. Trexquant Investment LP now owns 17,811 shares of the specialty chemicals company’s stock worth $133,000 after purchasing an additional 7,151 shares in the last quarter. AlphaQuest LLC raised its holdings in shares of Kronos Worldwide by 214.5% in the 1st quarter. AlphaQuest LLC now owns 13,590 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 9,269 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Kronos Worldwide during the first quarter valued at approximately $29,000. Finally, American Century Companies Inc. boosted its holdings in Kronos Worldwide by 11.4% during the first quarter. American Century Companies Inc. now owns 158,234 shares of the specialty chemicals company’s stock worth $1,184,000 after buying an additional 16,244 shares in the last quarter. 15.11% of the stock is owned by institutional investors and hedge funds.

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.