Shares of Tronox Holdings PLC (NYSE:TROX – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eight research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $8.13.
TROX has been the topic of a number of recent research reports. UBS Group decreased their target price on Tronox from $10.00 to $8.50 and set a “buy” rating on the stock in a report on Wednesday, June 4th. Mizuho lowered their price objective on Tronox from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Barclays cut their price objective on Tronox from $13.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, May 28th. Truist Financial decreased their target price on shares of Tronox from $14.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $7.00 price target (down from $13.00) on shares of Tronox in a research report on Wednesday, May 7th.
Read Our Latest Stock Report on TROX
Tronox Trading Up 4.8%
Tronox (NYSE:TROX – Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.17). Tronox had a negative net margin of 4.94% and a negative return on equity of 1.57%. The firm had revenue of $738.00 million for the quarter, compared to the consensus estimate of $745.96 million. Tronox’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Research analysts expect that Tronox will post 0.49 earnings per share for the current year.
Tronox Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Monday, May 19th will be issued a $0.125 dividend. The ex-dividend date is Monday, May 19th. This represents a $0.50 dividend on an annualized basis and a yield of 9.17%. Tronox’s dividend payout ratio is presently -52.63%.
Insiders Place Their Bets
In other news, SVP Jeffrey N. Neuman bought 10,266 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average cost of $4.89 per share, for a total transaction of $50,200.74. Following the completion of the transaction, the senior vice president now owns 10,266 shares of the company’s stock, valued at approximately $50,200.74. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.70% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Tronox
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans raised its holdings in Tronox by 60.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 6,938,289 shares of the company’s stock valued at $69,869,000 after buying an additional 2,616,804 shares during the period. Nuveen LLC purchased a new stake in shares of Tronox in the first quarter valued at $17,268,000. Cubist Systematic Strategies LLC bought a new stake in shares of Tronox in the 1st quarter worth about $6,765,000. Capital International Investors lifted its holdings in shares of Tronox by 14.8% in the 4th quarter. Capital International Investors now owns 6,060,943 shares of the company’s stock worth $61,034,000 after acquiring an additional 781,223 shares during the last quarter. Finally, Lightrock Netherlands B.V. boosted its stake in shares of Tronox by 82.7% during the 1st quarter. Lightrock Netherlands B.V. now owns 1,657,579 shares of the company’s stock worth $11,689,000 after purchasing an additional 750,145 shares during the period. 73.36% of the stock is owned by hedge funds and other 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.
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