Kronos Worldwide (NYSE:KRO) Cut to Buy at StockNews.com

StockNews.com lowered shares of Kronos Worldwide (NYSE:KRO) from a strong-buy rating to a buy rating in a report issued on Tuesday morning.

Kronos Worldwide Trading Up 0.1 %

Shares of Kronos Worldwide stock opened at $9.75 on Tuesday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 12.04 and a beta of 1.16. Kronos Worldwide has a 52-week low of $8.26 and a 52-week high of $14.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 2.68. The stock’s 50-day simple moving average is $9.99 and its 200 day simple moving average is $11.02.

Kronos Worldwide (NYSE:KRO) last posted its earnings results on Wednesday, November 6th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.28. Kronos Worldwide had a return on equity of 11.74% and a net margin of 5.05%. The firm had revenue of $484.70 million for the quarter, compared to the consensus estimate of $588.59 million.

Hedge Funds Weigh In On Kronos Worldwide

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KRO. nVerses Capital LLC raised its stake in Kronos Worldwide by 83.3% in the third quarter. nVerses Capital LLC now owns 4,400 shares of the specialty chemicals company’s stock valued at $55,000 after purchasing an additional 2,000 shares in the last quarter. Quantbot Technologies LP purchased a new position in Kronos Worldwide in the third quarter worth $67,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Kronos Worldwide by 1,086.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 9,600 shares of the specialty chemicals company’s stock valued at $120,000 after acquiring an additional 8,791 shares during the last quarter. Jade Capital Advisors LLC purchased a new stake in Kronos Worldwide during the third quarter valued at about $124,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Kronos Worldwide during the second quarter worth about $131,000. 15.11% of the stock is currently owned by hedge funds and other institutional investors.

Kronos Worldwide Company Profile

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.