Kronos Worldwide Inc (NYSE:KRO) Stock Price Up 7.6% After Analyst Upgrade

Shares of Kronos Worldwide Inc (NYSE:KRO) rose 7.6% during mid-day trading on Friday after Barclays PLC raised their price target on the stock from $15.00 to $17.00. Barclays PLC currently has an underweight rating on the stock. Kronos Worldwide traded as high as $19.71 and last traded at $19.50, with a volume of 1,234,022 shares changing hands. The stock had previously closed at $18.12.

KRO has been the subject of several other reports. Zacks Investment Research upgraded Kronos Worldwide from a “hold” rating to a “strong-buy” rating and set a $24.00 target price for the company in a research note on Friday, July 28th. ValuEngine upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded Kronos Worldwide from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.50.

In related news, insider Benjiman R. Corona sold 2,000 shares of Kronos Worldwide stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $18.35, for a total value of $36,700.00. Following the completion of the transaction, the insider now directly owns 500 shares in the company, valued at $9,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.08% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the company. 1060 Capital LLC purchased a new position in Kronos Worldwide during the first quarter worth approximately $17,241,000. Tudor Investment Corp ET AL increased its position in Kronos Worldwide by 114.5% in the first quarter. Tudor Investment Corp ET AL now owns 69,337 shares of the specialty chemicals company’s stock worth $1,139,000 after buying an additional 37,010 shares during the period. Acadian Asset Management LLC increased its position in Kronos Worldwide by 455.4% in the first quarter. Acadian Asset Management LLC now owns 363,801 shares of the specialty chemicals company’s stock worth $5,978,000 after buying an additional 298,300 shares during the period. Nationwide Fund Advisors increased its position in Kronos Worldwide by 10.0% in the first quarter. Nationwide Fund Advisors now owns 14,573 shares of the specialty chemicals company’s stock worth $239,000 after buying an additional 1,326 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Kronos Worldwide during the fourth quarter worth approximately $184,000. Institutional investors and hedge funds own 14.37% of the company’s stock.

The company has a 50-day moving average price of $19.67 and a 200-day moving average price of $17.05. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 8.11 and a beta of 2.10.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Tuesday, September 5th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.60 annualized dividend and a dividend yield of 3.08%. Kronos Worldwide’s payout ratio is 24.90%.

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About Kronos Worldwide

Kronos Worldwide, Inc (Kronos) 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 with sales in Europe and North America.