Tronox (NYSE:TROX) Price Target Raised to $22.00

Tronox (NYSE:TROX) had its price objective boosted by Barclays from $17.00 to $22.00 in a research note released on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also commented on TROX. The Goldman Sachs Group lifted their price target on shares of Tronox from $17.00 to $22.00 and gave the stock a buy rating in a report on Monday, May 6th. BMO Capital Markets lifted their price target on shares of Tronox from $19.00 to $24.00 and gave the stock an outperform rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Tronox from a sell rating to a hold rating in a report on Monday, May 13th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $17.43.

Tronox Trading Up 1.6 %

Shares of Tronox stock opened at $19.39 on Wednesday. Tronox has a fifty-two week low of $10.08 and a fifty-two week high of $19.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.09 and a current ratio of 3.12. The company’s 50 day moving average price is $17.41 and its two-hundred day moving average price is $14.79.

Tronox (NYSE:TROX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). Tronox had a negative net margin of 11.93% and a negative return on equity of 2.74%. The company had revenue of $774.00 million during the quarter, compared to analyst estimates of $753.98 million. During the same quarter in the prior year, the business earned $0.15 EPS. The business’s quarterly revenue was up 9.3% on a year-over-year basis. On average, equities analysts anticipate that Tronox will post 0.71 earnings per share for the current year.

Tronox Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, May 20th will be paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Friday, May 17th. Tronox’s dividend payout ratio is presently -22.42%.

Hedge Funds Weigh In On Tronox

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Tronox by 0.3% in the third quarter. Vanguard Group Inc. now owns 12,476,001 shares of the company’s stock valued at $167,677,000 after purchasing an additional 41,481 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Tronox by 6.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 9,248,364 shares of the company’s stock valued at $130,960,000 after purchasing an additional 597,663 shares in the last quarter. Franklin Resources Inc. increased its stake in Tronox by 16.5% in the fourth quarter. Franklin Resources Inc. now owns 6,185,221 shares of the company’s stock valued at $87,583,000 after purchasing an additional 876,192 shares in the last quarter. Capital International Investors increased its stake in Tronox by 2.7% in the first quarter. Capital International Investors now owns 4,757,130 shares of the company’s stock valued at $82,536,000 after purchasing an additional 126,926 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Tronox by 7.0% in 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. Institutional investors own 73.36% of the company’s stock.

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.