Kronos Worldwide, Inc. (NYSE:KRO) Sees Significant Increase in Short Interest

Kronos Worldwide, Inc. (NYSE:KRO) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,010,000 shares, an increase of 18.6% from the July 15th total of 851,900 shares. Based on an average trading volume of 269,200 shares, the days-to-cover ratio is presently 3.8 days. Approximately 4.7% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KRO. The Goldman Sachs Group upped their target price on Kronos Worldwide from $9.00 to $11.00 and gave the company a “sell” rating in a research report on Thursday, May 16th. Deutsche Bank Aktiengesellschaft upped their target price on Kronos Worldwide from $12.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Barclays upped their price objective on Kronos Worldwide from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Wednesday, May 15th. Finally, StockNews.com upgraded Kronos Worldwide from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Kronos Worldwide has an average rating of “Hold” and a consensus price target of $11.67.

Institutional Investors Weigh In On Kronos Worldwide

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC increased its stake in shares of Kronos Worldwide by 9,905.7% in the second quarter. Quest Partners LLC now owns 8,805 shares of the specialty chemicals company’s stock valued at $111,000 after buying an additional 8,717 shares during the period. SG Americas Securities LLC acquired a new stake in Kronos Worldwide during the fourth quarter worth approximately $125,000. The Manufacturers Life Insurance Company acquired a new stake in Kronos Worldwide during the second quarter worth approximately $131,000. Counterpoint Mutual Funds LLC acquired a new stake in Kronos Worldwide during the first quarter worth approximately $134,000. Finally, XTX Topco Ltd acquired a new stake in Kronos Worldwide during the second quarter worth approximately $175,000. Institutional investors and hedge funds own 15.11% of the company’s stock.

Kronos Worldwide Price Performance

KRO traded down $0.28 on Friday, reaching $11.22. The stock had a trading volume of 64,253 shares, compared to its average volume of 246,322. Kronos Worldwide has a fifty-two week low of $6.16 and a fifty-two week high of $14.50. The firm has a 50-day moving average of $12.24 and a 200-day moving average of $11.56. 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 company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -50.04 and a beta of 1.19.

Kronos Worldwide (NYSE:KRO) last issued its earnings results on Wednesday, August 7th. The specialty chemicals company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Kronos Worldwide had a negative return on equity of 3.13% and a negative net margin of 1.50%. The firm had revenue of $500.50 million during the quarter, compared to analyst estimates of $504.19 million. As a group, sell-side analysts anticipate that Kronos Worldwide will post 0.96 EPS for the current year.

Kronos Worldwide Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be paid a $0.05 dividend. The ex-dividend date is Friday, September 6th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. Kronos Worldwide’s payout ratio is -86.96%.

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.