Morgan Stanley Increases Tronox (NYSE:TROX) Price Target to $24.00

Tronox (NYSE:TROX) had its target price upped by Morgan Stanley from $22.00 to $24.00 in a research report report published on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Zacks Investment Research upgraded Tronox from a hold rating to a strong-buy rating and set a $25.00 price target on the stock in a research note on Wednesday, May 5th.

TROX stock opened at $22.13 on Monday. The stock has a market cap of $3.39 billion, a P/E ratio of 3.47 and a beta of 2.65. The company has a current ratio of 3.38, a quick ratio of 1.85 and a debt-to-equity ratio of 2.03. Tronox has a twelve month low of $5.68 and a twelve month high of $23.85. The company’s 50 day moving average is $20.21 and its two-hundred day moving average is $16.41.

Tronox (NYSE:TROX) last announced its quarterly earnings results on Wednesday, April 28th. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.16. Tronox had a net margin of 34.63% and a return on equity of 7.18%. The firm had revenue of $891.00 million for the quarter, compared to analyst estimates of $845.69 million. During the same period last year, the business earned $0.29 EPS. Tronox’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, equities research analysts predict that Tronox will post 0.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Monday, May 17th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, May 14th. Tronox’s dividend payout ratio is currently 68.09%.

In other Tronox news, CFO Timothy C. Carlson sold 42,500 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $22.55, for a total value of $958,375.00. Following the transaction, the chief financial officer now directly owns 279,381 shares of the company’s stock, valued at approximately $6,300,041.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey N. Neuman sold 16,237 shares of the company’s stock in a transaction on Monday, March 8th. The stock was sold at an average price of $18.33, for a total transaction of $297,624.21. Following the transaction, the senior vice president now owns 133,164 shares of the company’s stock, valued at approximately $2,440,896.12. The disclosure for this sale can be found here. Insiders have sold a total of 95,901 shares of company stock valued at $1,964,852 over the last ninety days. 2.00% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in TROX. NEXT Financial Group Inc purchased a new stake in Tronox in the 4th quarter valued at approximately $37,000. The PNC Financial Services Group Inc. lifted its holdings in shares of Tronox by 252.2% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,057 shares of the company’s stock valued at $38,000 after buying an additional 1,473 shares during the period. Advisory Services Network LLC purchased a new stake in shares of Tronox in the fourth quarter valued at approximately $44,000. Allworth Financial LP acquired a new position in Tronox during the first quarter worth $73,000. Finally, Nisa Investment Advisors LLC grew its holdings in Tronox by 34.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,500 shares of the company’s stock worth $80,000 after acquiring an additional 1,400 shares during the period. Hedge funds and other institutional investors own 54.25% 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 beneficiation and smelting operations. Its products include TiO2, zircon, and pig iron, as well as feedstock and other products comprising rutile prime, ilmenite, chloride slag, and other mining products.

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