Tronox (NYSE:TROX) Price Target Cut to $21.00

Tronox (NYSE:TROX) had its target price reduced by BMO Capital Markets from $22.00 to $21.00 in a report released on Monday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts have also issued reports on the stock. UBS Group lowered their price target on shares of Tronox from $19.00 to $18.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. The Goldman Sachs Group lowered their price target on shares of Tronox from $18.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, September 19th. StockNews.com raised shares of Tronox from a sell rating to a hold rating in a report on Monday, August 5th. Barclays decreased their target price on shares of Tronox from $19.00 to $18.00 and set an overweight rating on the stock in a report on Wednesday, September 25th. Finally, Mizuho started coverage on shares of Tronox in a report on Friday, June 7th. They set a neutral rating and a $22.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Tronox has a consensus rating of Hold and a consensus target price of $17.67.

Tronox Stock Down 2.9 %

Shares of NYSE TROX opened at $14.09 on Monday. Tronox has a 1 year low of $10.08 and a 1 year high of $20.70. The stock has a market capitalization of $2.22 billion, a P/E ratio of -6.34, a P/E/G ratio of 27.07 and a beta of 1.64. The company has a 50-day moving average price of $13.59 and a 200-day moving average price of $16.26. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.98 and a quick ratio of 1.08.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.11). The firm had revenue of $820.00 million for the quarter, compared to analysts’ expectations of $848.04 million. Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. On average, equities research analysts forecast that Tronox will post 0.44 EPS for the current fiscal year.

Tronox Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Monday, August 26th were paid a $0.125 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.50 dividend on an annualized basis and a yield of 3.55%. Tronox’s dividend payout ratio is presently -22.42%.

Institutional Investors Weigh In On Tronox

A number of institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in shares of Tronox in the 3rd quarter valued at $263,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Tronox in the 2nd quarter valued at $76,000. Algert Global LLC boosted its stake in shares of Tronox by 127.2% in the 2nd quarter. Algert Global LLC now owns 309,051 shares of the company’s stock valued at $4,849,000 after purchasing an additional 173,054 shares in the last quarter. Driehaus Capital Management LLC boosted its position in Tronox by 109.3% during the 2nd quarter. Driehaus Capital Management LLC now owns 2,646,916 shares of the company’s stock valued at $41,530,000 after buying an additional 1,381,975 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Tronox during the 2nd quarter valued at $325,000. Hedge funds and other institutional investors own 73.36% of the company’s stock.

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.