Truist Financial Cuts Tronox (NYSE:TROX) Price Target to $14.00

Tronox (NYSE:TROX) had its price target trimmed by Truist Financial from $17.00 to $14.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also commented on TROX. UBS Group decreased their target price on shares of Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Barclays lowered their target price on shares of Tronox from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, October 28th. Morgan Stanley dropped their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group decreased their price target on Tronox from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, BMO Capital Markets dropped their price objective on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Tronox has an average rating of “Moderate Buy” and an average target price of $15.57.

Tronox Trading Up 0.4 %

NYSE:TROX opened at $8.10 on Tuesday. The company has a market capitalization of $1.28 billion, a PE ratio of -26.12 and a beta of 1.60. Tronox has a 52-week low of $7.72 and a 52-week high of $20.70. The stock’s 50 day moving average price is $9.78 and its 200 day moving average price is $11.79. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42.

Tronox (NYSE:TROX) last announced its earnings results on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 1.56% and a negative return on equity of 0.62%. On average, research analysts anticipate that Tronox will post 0.76 EPS for the current year.

Tronox Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Monday, March 3rd will be paid a $0.125 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.50 annualized dividend and a yield of 6.18%. Tronox’s payout ratio is currently -161.29%.

Institutional Trading of Tronox

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Tronox by 4.7% during the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after acquiring an additional 1,073,674 shares during the period. Vanguard Group Inc. increased its position in Tronox by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock worth $127,390,000 after purchasing an additional 193,895 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Tronox by 60.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock worth $69,869,000 after purchasing an additional 2,616,804 shares during the period. Capital International Investors boosted its holdings in shares of Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock valued at $61,034,000 after purchasing an additional 781,223 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of Tronox by 5.2% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,799,111 shares of the company’s stock valued at $28,187,000 after purchasing an additional 139,401 shares during the last quarter. 73.36% of the stock is owned by institutional investors and hedge funds.

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.