Tronox (NYSE:TROX) Upgraded to Buy by UBS Group

UBS Group upgraded shares of Tronox (NYSE:TROX) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. UBS Group currently has $19.00 price target on the stock, up from their prior price target of $17.00.

TROX has been the topic of a number of other reports. BMO Capital Markets lowered their price objective on shares of Tronox from $22.00 to $21.00 and set an outperform rating on the stock in a report on Monday, September 30th. The Goldman Sachs Group cut their price target on shares of Tronox from $18.00 to $16.00 and set a buy rating on the stock in a research report on Thursday, September 19th. StockNews.com upgraded shares of Tronox from a sell rating to a hold rating in a research note on Monday, August 5th. Finally, Barclays lowered their target price on Tronox from $19.00 to $18.00 and set an overweight rating on the stock in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $17.83.

Tronox Stock Performance

Tronox stock opened at $14.75 on Thursday. Tronox has a 12-month low of $10.08 and a 12-month high of $20.70. 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 business’s 50-day simple moving average is $13.38 and its 200 day simple moving average is $16.12.

Tronox (NYSE:TROX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). Tronox had a negative net margin of 2.14% and a negative return on equity of 3.40%. The firm 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 firm posted $0.16 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Tronox will post 0.42 EPS for the current fiscal year.

Tronox Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Monday, August 26th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.50 annualized dividend and a dividend yield of 3.39%. Tronox’s dividend payout ratio is presently -121.95%.

Institutional Investors Weigh In On Tronox

Several hedge funds have recently bought and sold shares of TROX. Capital World Investors acquired a new position in Tronox during the first quarter worth approximately $19,152,000. Capital International Investors raised its stake in Tronox by 2.7% in the 1st quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock valued at $82,536,000 after acquiring an additional 126,926 shares during the period. Bridgeway Capital Management LLC raised its stake in Tronox by 29.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,234,263 shares of the company’s stock valued at $17,477,000 after acquiring an additional 281,110 shares during the period. Boston Partners lifted its holdings in Tronox by 160.2% during the 1st quarter. Boston Partners now owns 1,018,025 shares of the company’s stock valued at $17,664,000 after purchasing an additional 626,744 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in Tronox during the fourth quarter worth $338,000. 73.36% of the stock is currently owned by institutional investors and hedge funds.

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.