Tronox (NYSE:TROX) Price Target Increased to $22.00 by Analysts at Barclays

Tronox (NYSE:TROX) had its target price raised by Barclays from $17.00 to $22.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

TROX has been the subject of a number of other research reports. BMO Capital Markets increased their price target on Tronox from $19.00 to $24.00 and gave the company an outperform rating in a report on Friday, May 3rd. The Goldman Sachs Group upped their price objective on Tronox from $17.00 to $22.00 and gave the company a buy rating in a research note on Monday, May 6th. Finally, StockNews.com upgraded Tronox from a sell rating to a hold rating in a research note on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $17.43.

Tronox Stock Performance

Shares of TROX opened at $19.39 on Wednesday. Tronox has a one year low of $10.08 and a one year high of $19.75. The company has a debt-to-equity ratio of 1.44, a current ratio of 3.12 and a quick ratio of 1.09. The stock has a 50-day moving average price of $17.41 and a 200 day moving average price of $14.79.

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

Tronox Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Monday, May 20th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, May 17th. Tronox’s payout ratio is -22.42%.

Institutional Trading of Tronox

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Tronox by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,476,001 shares of the company’s stock worth $167,677,000 after purchasing an additional 41,481 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Tronox by 6.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,248,364 shares of the company’s stock worth $130,960,000 after purchasing an additional 597,663 shares during the period. Franklin Resources Inc. raised its position in shares of Tronox by 16.5% during the 4th 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 during the period. Capital International Investors increased its position in Tronox by 2.7% in the 1st quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock valued at $82,536,000 after acquiring an additional 126,926 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Tronox by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock valued at $27,627,000 after acquiring an additional 127,718 shares during the period. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.