Tronox (NYSE:TROX) Stock Price Down 6.9% on Analyst Downgrade

Tronox Holdings plc (NYSE:TROX - Get Free Report) shares were down 6.9% during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $17.00 to $14.00. Truist Financial currently has a buy rating on the stock. Tronox traded as low as $8.22 and last traded at $8.15. Approximately 894,693 shares changed hands during trading, a decline of 32% from the average daily volume of 1,307,266 shares. The stock had previously closed at $8.75.

Several other research firms have also issued reports on TROX. UBS Group dropped their price target on shares of Tronox from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group dropped their target price on shares of Tronox from $15.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Barclays lowered their price target on Tronox from $18.00 to $16.00 and set an "overweight" rating on the stock in a research report on Monday, October 28th. BMO Capital Markets dropped their price objective on Tronox from $21.00 to $17.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 29th. Finally, Morgan Stanley reduced their target price on Tronox from $16.00 to $12.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.57.

Hedge Funds Weigh In On Tronox

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in Tronox by 832.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company's stock valued at $38,000 after purchasing an additional 3,397 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Tronox in the third quarter valued at about $66,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Tronox by 34.6% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company's stock valued at $96,000 after acquiring an additional 1,683 shares in the last quarter. KBC Group NV grew its stake in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company's stock valued at $70,000 after acquiring an additional 2,590 shares in the last quarter. Finally, Mariner LLC bought a new position in Tronox during the fourth quarter worth about $105,000. Institutional investors and hedge funds own 73.36% of the company's stock.

Tronox Stock Up 2.2 %

The company has a current ratio of 2.72, a quick ratio of 0.90 and a debt-to-equity ratio of 1.42. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -16.68 and a beta of 1.60. The firm's 50 day simple moving average is $9.89 and its two-hundred day simple moving average is $11.84.

Tronox (NYSE:TROX - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.03). Tronox had a negative net margin of 2.40% and a negative return on equity of 3.91%. On average, equities analysts forecast that Tronox Holdings plc will post -0.05 EPS for the current year.

Tronox Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 6.25%. Tronox's dividend payout ratio (DPR) is currently -104.16%.

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.