Tronox (NYSE:TROX) Price Target Lowered to $18.00 at The Goldman Sachs Group

Tronox (NYSE:TROX) had its target price trimmed by The Goldman Sachs Group from $21.00 to $18.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also weighed in on TROX. UBS Group cut their target price on Tronox from $19.00 to $18.00 and set a neutral rating on the stock in a research note on Tuesday, July 9th. Mizuho started coverage on shares of Tronox in a research report on Friday, June 7th. They issued a neutral rating and a $22.00 price objective for the company. Barclays lowered their price target on Tronox from $22.00 to $19.00 and set an overweight rating for the company in a report on Tuesday, August 6th. Finally, StockNews.com raised Tronox from a sell rating to a hold rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $18.67.

Tronox Price Performance

Shares of NYSE:TROX opened at $13.08 on Tuesday. The business’s 50 day moving average is $14.94 and its 200-day moving average is $16.62. The company has a current ratio of 2.98, a quick ratio of 1.08 and a debt-to-equity ratio of 1.44. The firm has a market capitalization of $2.07 billion, a PE ratio of -5.87, a PEG ratio of 26.01 and a beta of 1.64. Tronox has a 1-year low of $10.08 and a 1-year high of $20.70.

Tronox (NYSE:TROX) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.11). Tronox had a negative return on equity of 3.40% and a negative net margin of 2.14%. The company had revenue of $820.00 million for the quarter, compared to analyst estimates of $848.04 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Tronox will post 0.44 earnings per share for the current year.

Tronox Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Monday, August 26th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $0.50 dividend on an annualized basis and a yield of 3.82%. Tronox’s dividend payout ratio (DPR) is presently -22.42%.

Institutional Trading of Tronox

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC purchased a new stake in shares of Tronox during the fourth quarter worth about $27,000. Natixis Advisors L.P. boosted its position in Tronox by 8.4% during the 4th quarter. Natixis Advisors L.P. now owns 22,197 shares of the company’s stock valued at $314,000 after acquiring an additional 1,726 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tronox by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,951,090 shares of the company’s stock valued at $27,627,000 after purchasing an additional 127,718 shares in the last quarter. Mesirow Institutional Investment Management Inc. lifted its position in Tronox by 32.8% during the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 986,860 shares of the company’s stock valued at $13,974,000 after buying an additional 243,475 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Tronox by 6.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,248,364 shares of the company’s stock worth $130,960,000 after acquiring an additional 597,663 shares in the last quarter. 73.36% of the stock is 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.