Tronox (NYSE:TROX) PT Lowered to $16.00 at Barclays

Tronox (NYSE:TROX - Free Report) had its price objective trimmed by Barclays from $18.00 to $16.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group upgraded shares of Tronox from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $17.00 to $19.00 in a research note on Thursday, October 10th. The Goldman Sachs Group dropped their price target on Tronox from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, September 19th. BMO Capital Markets cut their price objective on Tronox from $22.00 to $21.00 and set an "outperform" rating on the stock in a report on Monday, September 30th. Finally, StockNews.com raised Tronox from a "sell" rating to a "hold" rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Tronox has an average rating of "Moderate Buy" and a consensus target price of $18.80.

Tronox Stock Down 0.4 %

NYSE:TROX traded down $0.05 during mid-day trading on Monday, hitting $12.36. 1,315,259 shares of the company's stock traded hands, compared to its average volume of 1,123,885. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.08 and a current ratio of 2.98. The company has a market capitalization of $1.95 billion, a P/E ratio of -25.75, a P/E/G ratio of 26.03 and a beta of 1.64. The company has a fifty day moving average of $13.47 and a 200 day moving average of $15.85. Tronox has a twelve month low of $10.24 and a twelve month high of $20.70.

Tronox (NYSE:TROX - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analyst estimates of $790.63 million. Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. The business's revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) EPS. On average, analysts forecast that Tronox will post 0.39 EPS for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, August 26th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Monday, August 26th. Tronox's payout ratio is currently -104.16%.

Hedge Funds Weigh In On Tronox

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Tronox by 9.2% in 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 during the period. Wealth Enhancement Advisory Services LLC grew its stake in Tronox by 4.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 25,065 shares of the company's stock valued at $393,000 after acquiring an additional 1,014 shares during the period. ProShare Advisors LLC increased its holdings in 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 in the last quarter. The Manufacturers Life Insurance Company raised its position in Tronox by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 45,701 shares of the company's stock worth $717,000 after acquiring an additional 2,180 shares during the period. Finally, nVerses Capital LLC raised its position in Tronox by 35.1% during the third quarter. nVerses Capital LLC now owns 10,400 shares of the company's stock worth $152,000 after acquiring an additional 2,700 shares during the period. Hedge funds and other institutional investors 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.