Tronox Holdings plc (NYSE:TROX – Get Free Report) fell 3.5% during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $15.00 to $13.00. BMO Capital Markets currently has a market perform rating on the stock. Tronox traded as low as $13.63 and last traded at $13.63. 1,076,760 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 1,184,382 shares. The stock had previously closed at $14.12.
Several other analysts have also recently weighed in on the company. Credit Suisse Group raised their price target on Tronox from $10.00 to $12.00 and gave the company an “underperform” rating in a report on Thursday. Morgan Stanley reissued an “equal weight” rating and set a $16.00 price target on shares of Tronox in a research report on Wednesday, July 19th. StockNews.com began coverage on Tronox in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Tronox from $18.00 to $17.00 in a research note on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Tronox currently has a consensus rating of “Hold” and a consensus target price of $15.86.
Hedge Funds Weigh In On Tronox
Hedge funds and other institutional investors have recently modified their holdings of the stock. Mendota Financial Group LLC bought a new position in Tronox during the fourth quarter valued at $33,000. Covestor Ltd increased its stake in Tronox by 1,757.7% during the first quarter. Covestor Ltd now owns 2,898 shares of the company’s stock worth $57,000 after acquiring an additional 2,742 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Tronox by 337.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,242 shares of the company’s stock valued at $46,000 after purchasing an additional 2,501 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Tronox in the 4th quarter worth about $51,000. Finally, US Bancorp DE lifted its stake in Tronox by 41.5% in the first quarter. US Bancorp DE now owns 3,773 shares of the company’s stock worth $54,000 after purchasing an additional 1,106 shares during the last quarter. Institutional investors own 70.18% of the company’s stock.
Tronox Stock Performance
The firm has a fifty day moving average price of $12.77 and a two-hundred day moving average price of $13.96. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.21 and a quick ratio of 0.73. The stock has a market capitalization of $2.16 billion, a PE ratio of -15.55, a P/E/G ratio of 1.25 and a beta of 1.92.
Tronox (NYSE:TROX – Get Free Report) last released its quarterly earnings data on Wednesday, July 26th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.11). Tronox had a negative net margin of 4.60% and a positive return on equity of 5.43%. The company had revenue of $794.00 million during the quarter, compared to analysts’ expectations of $821.82 million. During the same period last year, the firm earned $0.84 earnings per share. Tronox’s quarterly revenue was down 16.0% on a year-over-year basis. Research analysts expect that Tronox Holdings plc will post 1.25 EPS for the current year.
Tronox Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Monday, May 15th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend was Friday, May 12th. Tronox’s payout ratio is -56.18%.
About Tronox
Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.