Why This Little-Known Stock Shot Up 19.5% and Hit a 52-Week High in February
Tronox Holdings (NYSE: TROX) has been on fire for some months, and February was no different: Shares of the chemical maker jumped 19.5% last month, according to data provided by S&P Global Market Intelligence. With those gains, Tronox stock hit a new 52-week high in February. Solid earnings, a dividend hike, and strong outlook were the big triggers.
Tronox delivered a solid set of fourth-quarter and full-year numbers on Feb. 17, in line with preliminary numbers that it announced mid-January, which even sent the stock soaring double-digits briefly.
Tronox's Q4 revenue jumped 13% year over year, driven by 8% growth in volumes for its key product, titanium dioxide (TiO2). TiO2 is a key raw material for the paint and coatings industry, and is also widely applied in industries like plastics, paper, textiles, and automotive.
Source Fool.com
