Tronox (NYSE:TROX) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Tronox (NYSE:TROX) from a hold rating to a sell rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Tronox Holdings plc is a vertically integrated mining and inorganic chemical business. The company mines and processes titanium ore, zircon and other minerals and manufactures titanium dioxide pigments to paints, plastics, paper and other everyday products. It operates primarily in South Africa, Australia, United States, the Netherlands and Australia. Tronox Holdings plc, formerly known as Tronox Limited, is based in London, United Kingdom. “

Other equities research analysts have also issued research reports about the company. ValuEngine raised Tronox from a strong sell rating to a sell rating in a research report on Wednesday, May 15th. Alembic Global Advisors set a $19.00 price target on Tronox and gave the stock a buy rating in a research report on Friday, May 10th. BMO Capital Markets set a $19.00 price target on Tronox and gave the stock a buy rating in a research report on Tuesday, March 19th. SunTrust Banks raised their price target on Tronox from $17.00 to $20.00 and gave the stock a buy rating in a research report on Thursday, April 11th. Finally, Barclays reaffirmed a buy rating and set a $15.00 price target on shares of Tronox in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $15.43.

NYSE TROX opened at $11.37 on Tuesday. The stock has a market cap of $1.69 billion, a PE ratio of 20.30 and a beta of 3.13. The company has a current ratio of 5.82, a quick ratio of 4.72 and a debt-to-equity ratio of 4.80. Tronox has a one year low of $6.46 and a one year high of $21.04.

Tronox (NYSE:TROX) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.22). The business had revenue of $390.00 million for the quarter, compared to analyst estimates of $414.80 million. Tronox had a return on equity of 5.43% and a net margin of 0.17%. Research analysts anticipate that Tronox will post 0.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, May 17th. Tronox’s dividend payout ratio is presently 32.14%.

In other news, Chairman Jeffry N. Quinn bought 9,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were acquired at an average price of $10.45 per share, with a total value of $100,320.00. Following the transaction, the chairman now owns 266,720 shares in the company, valued at $2,787,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wayne A. Hinman bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was purchased at an average cost of $11.01 per share, for a total transaction of $55,050.00. Following the transaction, the director now owns 142,807 shares in the company, valued at approximately $1,572,305.07. The disclosure for this purchase can be found here. In the last three months, insiders purchased 29,027 shares of company stock worth $305,315. 1.30% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Optimum Investment Advisors acquired a new position in shares of Tronox during the 1st quarter worth approximately $39,000. PNC Financial Services Group Inc. increased its position in shares of Tronox by 3,011.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,200 shares of the company’s stock worth $32,000 after purchasing an additional 4,065 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Tronox during the 1st quarter worth approximately $64,000. Daiwa Securities Group Inc. acquired a new position in shares of Tronox during the 1st quarter worth approximately $92,000. Finally, Bbva Compass Bancshares Inc. increased its position in shares of Tronox by 14.0% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 14,342 shares of the company’s stock worth $188,000 after purchasing an additional 1,766 shares during the last quarter. 56.65% of the stock is currently owned by institutional investors and hedge funds.

Tronox Company Profile

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.

Featured Story: Holder of Record

Get a free copy of the Zacks research report on Tronox (TROX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Tronox (NYSE:TROX)

Receive News & Ratings for Tronox Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tronox and related companies with MarketBeat.com's FREE daily email newsletter.