Zacks Investment Research Upgrades Kronos Worldwide, Inc. (KRO) to “Strong-Buy”

Kronos Worldwide, Inc. (NYSE:KRO) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The brokerage presently has a $18.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 13.35% from the company’s current price.

According to Zacks, “KRONOS WORLDWIDE, INC. is a global producer and marketer of value-added titanium dioxide pigments. The Company along with its distributors and agents, sells and provides technical services for its products to over 4,000 customers in approximately 100 countries with the majority of sales in Europe and North America. “

Separately, Barclays PLC increased their price objective on shares of Kronos Worldwide from $7.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, March 14th.

Kronos Worldwide (NYSE:KRO) opened at 15.88 on Friday. The firm’s 50 day moving average is $13.98 and its 200 day moving average is $11.14. The company has a market cap of $1.84 billion, a PE ratio of 42.46 and a beta of 2.24. Kronos Worldwide has a 52-week low of $4.70 and a 52-week high of $16.00.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Tuesday, March 7th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 3.78%. Kronos Worldwide’s dividend payout ratio (DPR) is -5,994.01%.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bayesian Capital Management LP bought a new position in shares of Kronos Worldwide during the fourth quarter worth approximately $139,000. Ellington Management Group LLC bought a new position in shares of Kronos Worldwide during the fourth quarter worth approximately $155,000. AQR Capital Management LLC bought a new position in shares of Kronos Worldwide during the fourth quarter worth approximately $184,000. Metropolitan Life Insurance Co. NY increased its position in shares of Kronos Worldwide by 8.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,280 shares of the company’s stock worth $194,000 after buying an additional 1,284 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of Kronos Worldwide by 68.9% in the third quarter. Bank of Montreal Can now owns 16,751 shares of the company’s stock worth $139,000 after buying an additional 6,834 shares during the last quarter. Institutional investors own 13.80% of the company’s stock.

About Kronos Worldwide

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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