Tronox (NYSE:TROX) Price Target Cut to $13.00 by Analysts at The Goldman Sachs Group

Tronox (NYSE:TROX - Free Report) had its price objective trimmed by The Goldman Sachs Group from $15.00 to $13.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

TROX has been the subject of several other research reports. Barclays reduced their price objective on shares of Tronox from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Monday, October 28th. BMO Capital Markets lowered their price objective on Tronox from $21.00 to $17.00 and set an "outperform" rating for the company in a research report on Tuesday, October 29th. Finally, UBS Group upgraded Tronox from a "neutral" rating to a "buy" rating and increased their price target for the company from $17.00 to $19.00 in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Tronox currently has an average rating of "Moderate Buy" and a consensus price target of $17.40.

Tronox Stock Down 1.3 %

TROX stock traded down $0.12 during trading on Tuesday, hitting $9.45. 1,335,531 shares of the company's stock traded hands, compared to its average volume of 1,204,853. The business has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $13.26. The company has a quick ratio of 0.90, a current ratio of 2.72 and a debt-to-equity ratio of 1.42. The firm has a market capitalization of $1.49 billion, a P/E ratio of -19.69 and a beta of 1.62. Tronox has a 1 year low of $9.40 and a 1 year high of $20.70.

Tronox (NYSE:TROX - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.30). The company had revenue of $804.00 million for the quarter, compared to analysts' expectations of $790.63 million. Tronox had a negative return on equity of 3.91% and a negative net margin of 2.40%. The company's revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Sell-side analysts anticipate that Tronox will post -0.04 EPS for the current year.

Tronox Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, November 11th were issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, November 8th. Tronox's dividend payout ratio is presently -104.17%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Natixis Advisors LLC raised its holdings in shares of Tronox by 136.4% during the second quarter. Natixis Advisors LLC now owns 51,844 shares of the company's stock worth $813,000 after purchasing an additional 29,909 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Tronox by 5.3% during the second quarter. Rhumbline Advisers now owns 199,568 shares of the company's stock worth $3,131,000 after purchasing an additional 9,969 shares during the last quarter. Headlands Technologies LLC purchased a new position in Tronox in the second quarter valued at $83,000. State of New Jersey Common Pension Fund D purchased a new position in Tronox in the second quarter valued at $1,480,000. Finally, Primecap Management Co. CA increased its holdings in Tronox by 0.8% in the second quarter. Primecap Management Co. CA now owns 1,311,700 shares of the company's stock valued at $20,581,000 after buying an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 73.36% of the company's stock.

Tronox Company Profile

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.