Truist Financial Has Lowered Expectations for Tronox (NYSE:TROX) Stock Price

Tronox (NYSE:TROX) had its target price cut by Truist Financial from $17.00 to $14.00 in a report issued on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

TROX has been the subject of several other reports. UBS Group dropped their price target on Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley dropped their target price on Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. The Goldman Sachs Group dropped their target price on Tronox from $15.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Barclays dropped their target price on Tronox from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets dropped their target price on Tronox from $21.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $15.57.

Tronox Stock Up 2.2 %

Shares of TROX opened at $8.01 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.90 and a current ratio of 2.72. Tronox has a one year low of $7.72 and a one year high of $20.70. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -16.68 and a beta of 1.60. The stock has a 50 day moving average price of $9.89 and a 200 day moving average price of $11.84.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. Equities research analysts forecast that Tronox will post -0.05 earnings per share for the current fiscal year.

Tronox Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.25%. Tronox’s dividend payout ratio is presently -104.16%.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of Tronox by 4.7% during the 3rd quarter. FMR LLC now owns 23,805,227 shares of the company’s stock worth $348,270,000 after purchasing an additional 1,073,674 shares during the period. Vanguard Group Inc. grew its holdings in shares of Tronox by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock worth $127,390,000 after purchasing an additional 193,895 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Tronox by 60.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock worth $69,869,000 after purchasing an additional 2,616,804 shares during the period. Capital International Investors grew its holdings in shares of Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after purchasing an additional 781,223 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its holdings in shares of Tronox by 5.2% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,799,111 shares of the company’s stock worth $28,187,000 after purchasing an additional 139,401 shares during the period. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

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.