Tronox (NYSE:TROX) Trading 6.1% Higher
Shares of Tronox Ltd (NYSE:TROX) traded up 6.1% during trading on Wednesday . The stock traded as high as $9.75 and last traded at $9.44, 3,772,100 shares were traded 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.
A number of research firms recently commented on TROX. BMO Capital Markets set a $18.00 price target on shares of Tronox and gave the stock a “buy” rating in a research report on Monday, August 12th. Morgan Stanley set a $15.00 price objective on shares of Tronox and gave the company a “hold” rating in a report on Wednesday, June 19th. ValuEngine downgraded shares of Tronox from a “hold” rating to a “sell” rating in a report on Thursday, August 8th. Finally, Zacks Investment Research lowered 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 issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $14.86.
The stock has a market cap of $1.34 billion, a P/E ratio of 16.86 and a beta of 3.36. 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 50 day simple moving average of $8.64 and a 200 day simple moving average of $11.35.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Tuesday, September 3rd will be given a $0.045 dividend. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Friday, August 30th. Tronox’s payout ratio is currently 32.14%.
In other news, Director Wayne A. Hinman acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were acquired at an average cost of $11.01 per share, with a total value of $55,050.00. Following the completion of the purchase, the director now directly owns 142,807 shares of the company’s stock, valued at approximately $1,572,305.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey N. Neuman acquired 4,000 shares of the 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 completion of the transaction, the senior vice president now owns 83,510 shares of the company’s stock, valued at $634,676. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 14,000 shares of company stock valued at $129,450. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TROX. Bank of America Corp DE boosted its holdings in shares of Tronox by 12.9% in the 4th quarter. Bank of America Corp DE now owns 55,229 shares of the company’s stock valued at $429,000 after purchasing an additional 6,331 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Tronox by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,225,773 shares of the company’s stock worth $32,877,000 after buying an additional 51,847 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Tronox in the first quarter valued at about $39,000. Bbva Compass Bancshares Inc. boosted its stake in Tronox by 14.0% in the first quarter. Bbva Compass Bancshares Inc. now owns 14,342 shares of the company’s stock valued at $188,000 after buying an additional 1,766 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Tronox by 20.4% in the first quarter. JPMorgan Chase & Co. now owns 1,036,449 shares of the company’s stock valued at $13,630,000 after buying an additional 175,746 shares in the last quarter. Hedge funds and other institutional investors own 54.83% of the company’s stock.
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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