Tronox (NYSE:TROX) Downgraded to “Sell” at StockNews.com

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

TROX has been the subject of several other reports. Barclays upped their target price on shares of Tronox from $17.00 to $22.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. BMO Capital Markets upped their price objective on shares of Tronox from $19.00 to $24.00 and gave the company an outperform rating in a research report on Friday, May 3rd. UBS Group dropped their target price on 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 boosted their price target on Tronox from $17.00 to $22.00 and gave the stock a buy rating in a research note on Monday, May 6th. Finally, Mizuho started 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $18.50.

Tronox Stock Performance

NYSE TROX opened at $16.62 on Friday. The company has a current ratio of 3.12, a quick ratio of 1.09 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $2.62 billion, a PE ratio of -7.45, a price-to-earnings-growth ratio of 18.85 and a beta of 1.70. Tronox has a twelve month low of $10.08 and a twelve month high of $20.70. The business’s 50-day moving average price is $18.34 and its 200 day moving average price is $16.35.

Tronox (NYSE:TROX) last posted 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 analyst estimates of $753.98 million. Tronox had a negative net margin of 11.93% and a negative return on equity of 2.74%. Tronox’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. On average, research analysts predict that Tronox will post 0.71 earnings per share for the current year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, May 20th were paid a $0.125 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.50 dividend on an annualized basis and a yield of 3.01%. Tronox’s dividend payout ratio (DPR) is -22.42%.

Institutional Investors Weigh In On Tronox

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in Tronox during the fourth quarter valued at $27,000. TFO Wealth Partners LLC boosted its holdings in shares of Tronox by 260,833.3% in the 4th quarter. TFO Wealth Partners LLC now owns 7,828 shares of the company’s stock valued at $111,000 after buying an additional 7,825 shares during the period. SG Americas Securities LLC bought a new stake in shares of Tronox during the 1st quarter valued at about $124,000. Allspring Global Investments Holdings LLC grew its position in shares of Tronox by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after buying an additional 861 shares during the last quarter. Finally, Boulder Hill Capital Management LP bought a new position in Tronox in the fourth quarter worth about $210,000. 73.36% of the stock is 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.