Tronox (TROX) Sees Unusually-High Trading Volume
Tronox Ltd (NYSE:TROX) saw an uptick in trading volume on Tuesday . 2,496,940 shares changed hands during mid-day trading, an increase of 105% from the previous session’s volume of 1,218,954 shares.The stock last traded at $12.70 and had previously closed at $12.07.
Several brokerages recently issued reports on TROX. BMO Capital Markets set a $19.00 price objective on shares of Tronox and gave the company a “buy” rating in a report on Tuesday. Barclays restated a “buy” rating and issued a $15.00 price objective on shares of Tronox in a report on Wednesday, March 13th. Zacks Investment Research upgraded shares of Tronox from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Wednesday, March 6th. UBS Group set a $10.00 price objective on shares of Tronox and gave the company a “sell” rating in a report on Thursday, December 6th. Finally, Alembic Global Advisors restated a “buy” rating on shares of Tronox in a report on Monday, December 17th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Tronox presently has a consensus rating of “Hold” and a consensus target price of $20.50.
The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 22.68 and a beta of 3.00. The company has a quick ratio of 6.88, a current ratio of 8.48 and a debt-to-equity ratio of 3.64.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Shareholders of record on Monday, March 11th will be given a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 1.42%. The ex-dividend date is Friday, March 8th. Tronox’s dividend payout ratio is currently 32.14%.
In other news, Director Ginger M. Jones bought 20,000 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was bought at an average cost of $11.45 per share, with a total value of $229,000.00. Following the transaction, the director now directly owns 41,303 shares in the company, valued at approximately $472,919.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in shares of Tronox by 3,011.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,200 shares of the company’s stock worth $32,000 after buying an additional 4,065 shares in the last quarter. Investors Research Corp grew its position in shares of Tronox by 11.0% during the fourth quarter. Investors Research Corp now owns 18,200 shares of the company’s stock worth $142,000 after buying an additional 1,800 shares in the last quarter. Windsor Creek Advisors LLC acquired a new position in shares of Tronox during the fourth quarter worth about $145,000. HRS Investment Holdings LLC acquired a new position in shares of Tronox during the fourth quarter worth about $156,000. Finally, Two Sigma Investments LP acquired a new position in shares of Tronox during the fourth quarter worth about $231,000. 68.30% of the stock is owned by institutional investors and hedge funds.
About Tronox (NYSE:TROX)
Tronox Limited produces and markets titanium bearing mineral sands and titanium dioxide (TiO2) pigment in North America, Europe, South Africa, and the Asia-Pacific region. The company engages in the exploration, mining, and beneficiation of mineral sands deposits. It also produces titanium feedstock, including chloride slag, slag fines, rutile, synthetic rutile, leucoxene, titanium slag, and ilmenite, as well as pig iron and zircon; and suplies and markets TiO2 under the TRONOX brand name, which is used in the manufacture of paint and other coatings, and plastics and paper, as well as in various other applications comprising inks, fibers, rubber, food, cosmetics, and pharmaceuticals.
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