Tronox (NYSE:TROX) Upgraded to “Hold” by StockNews.com

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

TROX has been the topic of several other reports. Barclays raised their price objective on Tronox from $17.00 to $22.00 and gave the stock an overweight rating in a research note on Wednesday, May 15th. Mizuho initiated coverage on shares of Tronox in a research report on Friday, June 7th. They issued a neutral rating and a $22.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Tronox from $17.00 to $22.00 and gave the company a buy rating in a research report on Monday, May 6th. Finally, BMO Capital Markets raised their target price on shares of Tronox from $19.00 to $24.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Tronox currently has a consensus rating of Hold and a consensus price target of $18.00.

Tronox Stock Down 3.0 %

Shares of Tronox stock opened at $15.58 on Thursday. Tronox has a twelve month low of $10.08 and a twelve month high of $20.70. The stock has a market cap of $2.46 billion, a price-to-earnings ratio of -6.99, a price-to-earnings-growth ratio of 18.78 and a beta of 1.83. 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 fifty day moving average price of $18.69 and a 200 day moving average price of $16.12.

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

Tronox Dividend Announcement

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 3.21%. The ex-dividend date of this dividend was Friday, May 17th. Tronox’s dividend payout ratio (DPR) is -22.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TROX. Allspring Global Investments Holdings LLC raised its stake in shares of Tronox by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,232 shares of the company’s stock valued at $178,000 after purchasing an additional 861 shares in the last quarter. Natixis Advisors L.P. raised its position in shares of Tronox by 4.9% during the 3rd quarter. Natixis Advisors L.P. now owns 20,471 shares of the company’s stock worth $275,000 after buying an additional 959 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Tronox by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 21,049 shares of the company’s stock worth $365,000 after acquiring an additional 1,657 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Tronox by 3.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 54,380 shares of the company’s stock valued at $770,000 after acquiring an additional 1,887 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Tronox during the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds 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.