Morgan Stanley set a $16.00 price objective on Tronox (OTCMKTS:TROX) in a report issued on Tuesday morning. The firm currently has a hold rating on the basic materials company’s stock.

A number of other brokerages also recently weighed in on TROX. Zacks Investment Research upgraded Tronox from a hold rating to a buy rating and set a $21.00 target price on the stock in a research note on Tuesday, June 12th. SunTrust Banks began coverage on Tronox in a research note on Tuesday, July 31st. They issued a buy rating and a $24.00 target price on the stock. Barclays cut their target price on Tronox to $24.00 and set an overweight rating on the stock in a research note on Monday, August 6th. Finally, BMO Capital Markets cut their target price on Tronox from $31.00 to $28.00 and set an outperform rating on the stock in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $25.10.

TROX stock opened at $12.40 on Tuesday. Tronox has a 52-week low of $12.30 and a 52-week high of $28.40.

Tronox (OTCMKTS:TROX) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The company had revenue of $492.00 million for the quarter, compared to analyst estimates of $497.24 million. Tronox’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) EPS.

The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Investors of record on Monday, August 27th were issued a $0.045 dividend. The ex-dividend date was Friday, August 24th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.45%.

In related news, CEO Jeffry N. Quinn purchased 12,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were bought at an average price of $16.97 per share, with a total value of $203,640.00. Following the acquisition, the chief executive officer now owns 171,931 shares of the company’s stock, valued at approximately $2,917,669.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Daniel Blue sold 10,000 shares of Tronox stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $15.66, for a total transaction of $156,600.00. Following the completion of the sale, the director now directly owns 69,795 shares in the company, valued at approximately $1,092,989.70. The disclosure for this sale can be found here.

A number of hedge funds have recently modified their holdings of TROX. Point72 Asset Management L.P. raised its holdings in Tronox by 125.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,219,480 shares of the basic materials company’s stock valued at $23,999,000 after acquiring an additional 679,161 shares during the period. Luminus Management LLC raised its holdings in Tronox by 38.0% during the 2nd quarter. Luminus Management LLC now owns 1,870,683 shares of the basic materials company’s stock valued at $36,815,000 after acquiring an additional 514,908 shares during the period. Farallon Capital Management LLC raised its holdings in Tronox by 263.3% during the 1st quarter. Farallon Capital Management LLC now owns 688,006 shares of the basic materials company’s stock valued at $12,687,000 after acquiring an additional 498,631 shares during the period. BlackRock Inc. raised its holdings in Tronox by 7.6% during the 2nd quarter. BlackRock Inc. now owns 6,203,333 shares of the basic materials company’s stock valued at $122,083,000 after acquiring an additional 440,398 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in Tronox by 3,971.3% during the 1st quarter. Neuberger Berman Group LLC now owns 404,814 shares of the basic materials company’s stock valued at $7,465,000 after acquiring an additional 394,871 shares during the period.

About Tronox

Tronox Limited is engaged in production and marketing of titanium bearing mineral sands and titanium dioxide pigment (TiO2). The Company’s TiO2 products are critical components of everyday applications, such as coatings, plastics, paper and other applications. The Company’s mineral sands business consists primarily of two product streams: titanium feedstock and zircon.

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