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

Tronox (NYSE:TROX) had its target price decreased by Truist Financial from $14.00 to $10.00 in a research report report published on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on TROX. UBS Group lowered their price target on shares of Tronox from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Mizuho dropped their target price on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. The Goldman Sachs Group reduced their price target on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Morgan Stanley lowered their price target on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.93.

Tronox Price Performance

NYSE:TROX opened at $5.18 on Monday. The firm has a market capitalization of $818.12 million, a price-to-earnings ratio of -16.71 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. The business has a 50 day simple moving average of $7.04 and a 200-day simple moving average of $9.96. Tronox has a 1 year low of $4.35 and a 1 year high of $20.70.

Tronox (NYSE:TROX) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Equities analysts forecast that Tronox will post 0.49 EPS for the current year.

Tronox Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 9.65%. The ex-dividend date of this dividend was Monday, March 3rd. Tronox’s payout ratio is currently -161.29%.

Insider Activity at Tronox

In related news, Director Stephen J. Jones bought 30,000 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was acquired at an average price of $7.17 per share, with a total value of $215,100.00. Following the completion of the purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $215,100. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Tronox

Hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in 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 last quarter. Lightrock Netherlands B.V. acquired a new position in Tronox during the fourth quarter worth about $9,183,000. Capital International Investors grew its stake in Tronox by 14.8% during the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock valued at $61,034,000 after acquiring an additional 781,223 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Tronox by 26.5% in the 4th quarter. Bank of New York Mellon Corp now owns 2,630,144 shares of the company’s stock valued at $26,486,000 after acquiring an additional 551,645 shares during the last quarter. Finally, Aristotle Capital Boston LLC raised its holdings in Tronox by 121.8% in the 4th quarter. Aristotle Capital Boston LLC now owns 951,277 shares of the company’s stock valued at $9,579,000 after acquiring an additional 522,412 shares during 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.