Truist Financial Cuts Tronox (NYSE:TROX) Price Target to $10.00

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

Other analysts have also issued reports about the stock. Morgan Stanley cut their target price on shares of Tronox from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho lowered 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. UBS Group decreased their price objective on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price objective on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.93.

Tronox Trading Up 4.4 %

NYSE:TROX opened at $5.46 on Monday. The company has a 50 day simple moving average of $7.23 and a two-hundred day simple moving average of $10.03. The company has a market cap of $862.34 million, a PE ratio of -17.61 and a beta of 1.53. The company has a current ratio of 2.47, a quick ratio of 0.90 and a debt-to-equity ratio of 1.54. Tronox has a 12 month low of $4.35 and a 12 month high of $20.70.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.03 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%. Research analysts forecast that Tronox will post 0.49 earnings per share for the current year.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 4th. Investors of record on Monday, March 3rd were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.50 annualized dividend and a yield of 9.16%. Tronox’s payout ratio is -161.29%.

Insider Buying and Selling at Tronox

In other Tronox news, Director Stephen J. Jones purchased 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were bought 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 in the company, valued at $215,100. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Institutional Trading of Tronox

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Tronox by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 12,650,443 shares of the company’s stock valued at $127,390,000 after acquiring an additional 193,895 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Tronox by 60.6% in 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 period. Capital International Investors increased its position in shares of 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 purchasing an additional 781,223 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. raised its holdings in Tronox by 5.2% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,799,111 shares of the company’s stock valued at $28,187,000 after buying an additional 139,401 shares during the period. Finally, Geode Capital Management LLC lifted its position in Tronox by 0.8% in the third quarter. Geode Capital Management LLC now owns 2,713,606 shares of the company’s stock worth $39,708,000 after buying an additional 22,165 shares during the last quarter. 73.36% of the stock is currently owned by institutional investors.

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.