Tronox (NYSE:TROX) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Tronox (NYSE:TROX) had its target price lowered by Morgan Stanley from $12.00 to $8.00 in a research note issued to investors on Monday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other brokerages have also recently issued reports on TROX. UBS Group reduced their target price on Tronox from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Mizuho reduced their price objective on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Truist Financial lowered their target price on Tronox from $14.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, The Goldman Sachs Group reduced their price target on shares of Tronox from $13.00 to $11.50 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.64.

Tronox Trading Down 5.9 %

TROX stock opened at $5.38 on Monday. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.47 and a quick ratio of 0.90. Tronox has a 1-year low of $4.35 and a 1-year high of $20.70. The business has a 50 day simple moving average of $6.26 and a two-hundred day simple moving average of $9.10. The company has a market capitalization of $849.71 million, a price-to-earnings ratio of -17.35 and a beta of 1.40.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.17). The company had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Tronox’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) EPS. Research analysts anticipate that Tronox will post 0.49 EPS for the current fiscal year.

Tronox Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.50 dividend on an annualized basis and a dividend yield of 9.29%. Tronox’s dividend payout ratio is -52.63%.

Insider Buying and Selling

In related news, Director Stephen J. Jones purchased 30,000 shares of Tronox 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 purchase, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $215,100. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently added to or reduced their stakes in TROX. Sterling Capital Management LLC boosted its holdings in shares of Tronox by 832.6% in the fourth quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after purchasing an additional 3,397 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Tronox by 763.5% in the 1st quarter. Nisa Investment Advisors LLC now owns 9,127 shares of the company’s stock worth $65,000 after buying an additional 8,070 shares during the period. KBC Group NV grew its position in shares of Tronox by 59.4% during the 4th quarter. KBC Group NV now owns 6,949 shares of the company’s stock worth $70,000 after buying an additional 2,590 shares in the last quarter. CWM LLC increased its stake in shares of Tronox by 1,186.7% during the first quarter. CWM LLC now owns 10,731 shares of the company’s stock valued at $76,000 after buying an additional 9,897 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Tronox by 1,070.2% in the first quarter. GAMMA Investing LLC now owns 11,257 shares of the company’s stock valued at $79,000 after acquiring an additional 10,295 shares in the last quarter. 73.36% of the stock is currently owned by institutional investors.

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.