Tronox (TROX) Trading Down 14.2%

Tronox Ltd (NYSE:TROX) shares were down 14.2% during mid-day trading on Thursday . The company traded as low as $9.51 and last traded at $9.67. Approximately 6,096,531 shares were traded during mid-day trading, an increase of 212% from the average daily volume of 1,955,470 shares. The stock had previously closed at $11.27.

A number of research analysts have issued reports on TROX shares. BMO Capital Markets set a $19.00 target price on Tronox and gave the company a “buy” rating in a research note on Tuesday, March 19th. Barclays restated a “buy” rating and issued a $15.00 price target on shares of Tronox in a report on Wednesday, March 13th. Zacks Investment Research upgraded Tronox from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Wednesday, March 6th. SunTrust Banks boosted their price target on Tronox from $17.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, Alembic Global Advisors set a $19.00 price target on Tronox and gave the company a “buy” rating in a report on Friday, May 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.57.

The firm has a market cap of $1.38 billion, a P/E ratio of 16.55 and a beta of 2.99. The company has a quick ratio of 4.72, a current ratio of 5.82 and a debt-to-equity ratio of 4.80.

Tronox (NYSE:TROX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.22). The firm had revenue of $390.00 million during the quarter, compared to the consensus estimate of $414.80 million. Tronox had a net margin of 0.17% and a return on equity of 5.43%. On average, equities analysts forecast that Tronox Ltd will post 0.96 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.045 dividend. The ex-dividend date was Friday, May 17th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.94%. Tronox’s dividend payout ratio (DPR) is 32.14%.

In related news, Director Ginger M. Jones bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were acquired at an average price of $11.45 per share, for a total transaction of $229,000.00. Following the completion of the acquisition, the director now owns 41,303 shares of the company’s stock, valued at approximately $472,919.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in Tronox by 3,011.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,200 shares of the company’s stock worth $32,000 after acquiring an additional 4,065 shares in the last quarter. Optimum Investment Advisors bought a new stake in Tronox during the first quarter worth about $39,000. Quantamental Technologies LLC bought a new stake in Tronox during the first quarter worth about $64,000. Daiwa Securities Group Inc. bought a new stake in Tronox during the first quarter worth about $92,000. Finally, Investors Research Corp raised its stake in Tronox by 11.0% in the fourth quarter. Investors Research Corp now owns 18,200 shares of the company’s stock valued at $142,000 after buying an additional 1,800 shares during the period. Institutional investors and hedge funds own 56.54% of the company’s stock.

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About Tronox (NYSE:TROX)

Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.

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