Tronox (NYSE:TROX) Shares Gap Up to $13.52

Tronox Holdings plc (NYSE:TROXGet Rating)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $13.52, but opened at $14.00. Tronox shares last traded at $13.81, with a volume of 12,798 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Tronox from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Monday, October 3rd. Credit Suisse Group assumed coverage on shares of Tronox in a research note on Tuesday, November 1st. They set an “underperform” rating and a $10.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of Tronox in a research note on Thursday, October 13th. They set a “buy” rating and a $16.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of Tronox from $16.00 to $15.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 27th. Finally, Barclays dropped their price objective on shares of Tronox from $21.00 to $16.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Tronox presently has an average rating of “Hold” and a consensus target price of $18.13.

Tronox Trading Up 0.8 %

The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 3.80, a price-to-earnings-growth ratio of 3.61 and a beta of 1.79. The business’s 50 day simple moving average is $12.75 and its 200 day simple moving average is $15.08. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.35 and a quick ratio of 1.00.

Tronox (NYSE:TROXGet Rating) last issued its earnings results on Wednesday, October 26th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.09). The firm had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $953.30 million. Tronox had a net margin of 16.13% and a return on equity of 19.19%. Research analysts anticipate that Tronox Holdings plc will post 2.37 EPS for the current year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, November 14th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, November 10th. Tronox’s payout ratio is 13.30%.

Insider Activity

In other news, CFO Timothy C. Carlson bought 5,000 shares of the stock in a transaction dated Friday, October 28th. The shares were acquired at an average price of $11.88 per share, with a total value of $59,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 334,326 shares in the company, valued at $3,971,792.88. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Jeffrey N. Neuman acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were purchased at an average price of $11.89 per share, with a total value of $47,560.00. Following the completion of the acquisition, the senior vice president now owns 193,312 shares in the company, valued at $2,298,479.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Timothy C. Carlson acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were bought at an average cost of $11.88 per share, for a total transaction of $59,400.00. Following the acquisition, the chief financial officer now owns 334,326 shares of the company’s stock, valued at approximately $3,971,792.88. The disclosure for this purchase can be found here. Insiders own 1.60% of the company’s stock.

Institutional Trading of Tronox

A number of institutional investors have recently added to or reduced their stakes in the stock. Aurora Investment Counsel boosted its holdings in Tronox by 9.0% during the third quarter. Aurora Investment Counsel now owns 62,828 shares of the company’s stock worth $770,000 after buying an additional 5,208 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of Tronox in the third quarter valued at about $139,000. Jade Capital Advisors LLC purchased a new stake in shares of Tronox in the third quarter valued at about $490,000. BNP Paribas Arbitrage SNC lifted its holdings in shares of Tronox by 5.9% in the third quarter. BNP Paribas Arbitrage SNC now owns 63,615 shares of the company’s stock valued at $779,000 after purchasing an additional 3,531 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Tronox in the third quarter valued at about $1,253,000. Hedge funds and other institutional investors own 66.93% of the company’s stock.

Tronox Company Profile

(Get Rating)

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; titanium tetrachloride; and other products.

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