UBS Group Trims Tronox (NYSE:TROX) Target Price to $18.00

Tronox (NYSE:TROX) had its target price reduced by UBS Group from $19.00 to $18.00 in a research note released on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

TROX has been the subject of several other reports. Mizuho assumed coverage on Tronox in a research note on Friday, June 7th. They set a neutral rating and a $22.00 price objective for the company. BMO Capital Markets boosted their target price on Tronox from $19.00 to $24.00 and gave the stock an outperform rating in a report on Friday, May 3rd. StockNews.com upgraded Tronox from a sell rating to a hold rating in a report on Thursday, June 27th. Barclays boosted their target price on Tronox from $17.00 to $22.00 and gave the stock an overweight rating in a report on Wednesday, May 15th. Finally, The Goldman Sachs Group boosted their target price on Tronox from $17.00 to $22.00 and gave the stock a buy rating in a report on Monday, May 6th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Tronox presently has an average rating of Hold and a consensus price target of $18.50.

Tronox Price Performance

Shares of Tronox stock opened at $16.52 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 3.12 and a debt-to-equity ratio of 1.44. Tronox has a twelve month low of $10.08 and a twelve month high of $20.70. The business has a 50-day moving average price of $18.43 and a 200 day moving average price of $16.30. The firm has a market cap of $2.61 billion, a PE ratio of -7.41, a P/E/G ratio of 18.74 and a beta of 1.70.

Tronox (NYSE:TROX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). Tronox had a negative return on equity of 2.74% and a negative net margin of 11.93%. The firm had revenue of $774.00 million for the quarter, compared to analysts’ expectations of $753.98 million. During the same quarter last year, the firm posted $0.15 earnings per share. Tronox’s quarterly revenue was up 9.3% on a year-over-year basis. Sell-side analysts predict that Tronox will post 0.71 earnings per share for the current fiscal year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, May 20th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Friday, May 17th. Tronox’s dividend payout ratio is presently -22.42%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA lifted its stake in Tronox by 7.9% during the fourth quarter. Primecap Management Co. CA now owns 1,234,700 shares of the company’s stock worth $17,483,000 after purchasing an additional 90,500 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tronox by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock worth $27,627,000 after purchasing an additional 127,718 shares in the last quarter. Franklin Resources Inc. lifted its stake in Tronox by 16.5% during the fourth quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock worth $87,583,000 after purchasing an additional 876,192 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Tronox by 29.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,234,263 shares of the company’s stock worth $17,477,000 after purchasing an additional 281,110 shares in the last quarter. Finally, Nomura Holdings Inc. acquired a new position in Tronox during the fourth quarter worth $338,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.