Tronox (NYSE:TROX) Downgraded by StockNews.com

StockNews.com cut shares of Tronox (NYSE:TROX) from a hold rating to a sell rating in a research report released on Saturday.

TROX has been the subject of a number of other reports. UBS Group raised their price objective on shares of Tronox from $13.00 to $14.00 and gave the stock a neutral rating in a research note on Thursday, January 11th. BMO Capital Markets boosted their target price on shares of Tronox from $19.00 to $24.00 and gave the company an outperform rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $16.29.

Tronox Trading Up 2.7 %

Shares of TROX stock opened at $19.22 on Friday. The firm has a market capitalization of $3.01 billion, a PE ratio of -8.62, a P/E/G ratio of 25.36 and a beta of 1.91. Tronox has a 1-year low of $10.08 and a 1-year high of $19.75. The business’s fifty day moving average price is $16.76 and its 200 day moving average price is $14.33. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.12 and a quick ratio of 1.09.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $774.00 million during the quarter, compared to analysts’ expectations of $753.98 million. Tronox had a negative net margin of 11.93% and a negative return on equity of 2.74%. The company’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. As a group, sell-side analysts forecast that Tronox will post 0.6 EPS for the current fiscal year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Monday, March 4th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, March 1st. Tronox’s dividend payout ratio (DPR) is currently -22.42%.

Hedge Funds Weigh In On Tronox

A number of large investors have recently modified their holdings of TROX. Allspring Global Investments Holdings LLC raised its stake in shares of Tronox by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after acquiring an additional 861 shares during the period. Arizona State Retirement System raised its stake in shares of Tronox by 2.8% during the third quarter. Arizona State Retirement System now owns 33,469 shares of the company’s stock valued at $450,000 after purchasing an additional 923 shares during the period. Natixis Advisors L.P. lifted its position in shares of Tronox by 4.9% during the third quarter. Natixis Advisors L.P. now owns 20,471 shares of the company’s stock worth $275,000 after purchasing an additional 959 shares in the last quarter. Millburn Ridgefield Corp purchased a new position in shares of Tronox in the third quarter valued at $25,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Tronox during the 3rd quarter valued at $25,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

Tronox Company Profile

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.