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Kronos Worldwide Inc (NYSE:KRO) stock has touched a 52-week low, dipping to $7.32, as the company faces a challenging market environment. According to InvestingPro data, the stock’s RSI indicates oversold territory, while fundamental metrics remain solid with a P/E ratio of 9.88 and healthy liquidity shown by a current ratio of 2.32. This latest price level reflects a significant downturn from the previous year, with the stock experiencing a 1-year change of -34.84%. Investors are closely monitoring the stock as it navigates through the pressures of industry-specific headwinds and broader economic factors that have contributed to this decline. The 52-week low serves as a critical point of interest for potential buyers looking for value opportunities, particularly given the company’s 16-year track record of consistent dividend payments and 13.24% revenue growth. InvestingPro analysis suggests the stock is currently undervalued, with eight additional ProTips available to subscribers analyzing the company’s financial health and growth prospects.
In other recent news, Kronos Worldwide Inc. announced a strategic adjustment to its credit agreement. The company has entered into a third amendment to its existing credit agreement, initially dated April 20, 2021. This revision allows certain senior secured notes to remain outstanding without accelerating the maturity date of its $300 million credit facility. Specifically, the amendment modifies the definition of the Maturity Date, enabling the 3.75% Senior Secured Notes due in 2025 to stay outstanding through their maturity date, contingent upon meeting a minimum liquidity condition. Additionally, the amendment expands the definition of Notes Indenture to include the indenture governing the 9.50% Senior Secured Notes due 2029. The overarching maturity date of the credit facility, set for July 17, 2029, remains unchanged. This move provides Kronos Worldwide with increased flexibility in managing its long-term debt obligations. The details of this amendment were included in the company’s recent SEC filing, reflecting an ongoing financial strategy to maintain a robust balance sheet.
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