Tronox Ltd (NYSE:TROX) shot up 6.1% on Wednesday . The stock traded as high as $9.75 and last traded at $9.44, 3,772,100 shares traded hands during mid-day trading. An increase of 139% from the average session volume of 1,580,896 shares. The stock had previously closed at $8.90.
Several brokerages recently weighed in on TROX. BMO Capital Markets set a $18.00 price target on shares of Tronox and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine cut shares of Tronox from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Morgan Stanley set a $15.00 price target on shares of Tronox and gave the company a “hold” rating in a research report on Wednesday, June 19th. Finally, Zacks Investment Research cut shares of Tronox from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.86.
The company’s 50-day simple moving average is $8.61 and its 200 day simple moving average is $11.34. The company has a current ratio of 3.15, a quick ratio of 1.62 and a debt-to-equity ratio of 3.44. The stock has a market cap of $1.33 billion, a P/E ratio of 17.23 and a beta of 3.36.
Tronox (NYSE:TROX) last posted its earnings results on Tuesday, August 6th. The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.17. Tronox had a negative net margin of 4.60% and a positive return on equity of 5.37%. The firm had revenue of $791.00 million for the quarter, compared to analysts’ expectations of $776.00 million. During the same quarter last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 60.8% compared to the same quarter last year. Research analysts anticipate that Tronox Ltd will post 0.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.18 annualized dividend and a dividend yield of 1.87%. Tronox’s dividend payout ratio is currently 32.14%.
In other news, SVP Jeffrey N. Neuman bought 4,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $7.60 per share, with a total value of $30,400.00. Following the transaction, the senior vice president now directly owns 83,510 shares in the company, valued at $634,676. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wayne A. Hinman bought 5,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were purchased at an average cost of $8.80 per share, for a total transaction of $44,000.00. Following the transaction, the director now owns 152,455 shares in the company, valued at $1,341,604. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Tronox by 36.7% during the 1st quarter. FMR LLC now owns 12,742,685 shares of the company’s stock worth $167,566,000 after buying an additional 3,422,168 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Tronox in the 2nd quarter valued at approximately $102,922,000. BlackRock Inc. grew its stake in Tronox by 0.6% in the 2nd quarter. BlackRock Inc. now owns 6,304,200 shares of the company’s stock valued at $80,568,000 after buying an additional 40,275 shares in the last quarter. Luminus Management LLC grew its stake in Tronox by 56.1% in the 2nd quarter. Luminus Management LLC now owns 4,996,065 shares of the company’s stock valued at $63,850,000 after buying an additional 1,794,959 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Tronox by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,225,773 shares of the company’s stock valued at $32,877,000 after buying an additional 51,847 shares in the last quarter. 54.83% of the stock is currently owned by hedge funds and other institutional investors.
About Tronox (NYSE:TROX)
Tronox Holdings plc engages in the mining, production, and marketing of inorganic minerals and chemicals in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It mines and processes titanium ore, zircon, and other minerals; and manufactures titanium dioxide pigments that add brightness and durability to paints, plastics, paper, and other everyday products.
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