Kronos Worldwide (NYSE:KRO) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Kronos Worldwide (NYSE:KRO) from a hold rating to a strong-buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $17.00 price target on the specialty chemicals company’s stock.

According to Zacks, “Kronos Worldwide’s earnings for the third quarter of 2021 beat the Zacks Consensus Estimate while sales missed. Higher demand for titanium dioxide (TiO2) in European and North American markets are likely to drive the company’s sales volumes in the near term. The company expects its sales volumes to rise on a year-over-year basis in 2021. Kronos Worldwide is also poised well to gain from higher TiO2 demand over the long term. New product development, a solid customer base, strengthening operations in international arenas and effective marketing strategies will also work in the company’s favor. Higher average TiO2 selling prices are also expected to drive the company’s sales and margins in 2021. Kronos Worldwide expects a rise in TiO2 prices through the balance of this year on the back of higher customer demand. “

A number of other equities analysts have also recently issued reports on the company. TheStreet upgraded Kronos Worldwide from a c+ rating to a b rating in a report on Friday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Kronos Worldwide from $15.00 to $16.00 and gave the stock a buy rating in a report on Monday.

Shares of KRO stock opened at $14.90 on Wednesday. Kronos Worldwide has a 1 year low of $12.06 and a 1 year high of $18.41. The firm has a market cap of $1.72 billion, a PE ratio of 18.86 and a beta of 1.33. The firm’s fifty day moving average price is $13.30. The company has a current ratio of 4.69, a quick ratio of 3.06 and a debt-to-equity ratio of 0.62.

Kronos Worldwide (NYSE:KRO) last issued its quarterly earnings results on Thursday, November 4th. The specialty chemicals company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. Kronos Worldwide had a return on equity of 11.33% and a net margin of 4.92%. As a group, sell-side analysts predict that Kronos Worldwide will post 0.82 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Thursday, December 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 4.83%. Kronos Worldwide’s dividend payout ratio (DPR) is presently 91.14%.

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its position in Kronos Worldwide by 40.0% during the third quarter. Royal Bank of Canada now owns 2,875 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 821 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Kronos Worldwide by 491.8% during the third quarter. Advisor Group Holdings Inc. now owns 3,764 shares of the specialty chemicals company’s stock valued at $45,000 after purchasing an additional 3,128 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Kronos Worldwide by 71.1% in the third quarter. BNP Paribas Arbitrage SA now owns 5,811 shares of the specialty chemicals company’s stock worth $72,000 after buying an additional 2,414 shares during the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of Kronos Worldwide in the third quarter worth about $75,000. Finally, KBC Group NV acquired a new stake in shares of Kronos Worldwide in the third quarter worth about $106,000. 14.94% of the stock is owned by institutional investors and hedge funds.

Kronos Worldwide Company Profile

Kronos Worldwide, Inc engages in the production and marketing of value-added titanium dioxide pigments. Its products are used for coatings and inks; plastics; paper and paper laminates; man-made fibers; health, food, and beauty; and ceramic, glass, and welding rods applications. The firm also offers assistance in pigment selection, consultation, on-site training, testing on lab scale equipment, and weathering tests technical services.

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