Tronox falls to record low after analyst downgrade to ‘underweight’

Tronox Incorporated (NYSE:TRX) is down nearly 10% today after Lehman Brothers downgraded the stock just after the opening bell to “underweight” from “equal-weight.” Tronox makes and markets titanium dioxide pigment, and the research firm said there was weak demand for the product along with higher energy and transportation costs to contend with. An hour before the market close, shares of Tronox are trading at $2.01, down $0.21 from Monday’s finish. Earlier in the day, Tronox fell to $1.77, a record low for the Oklahoma City-based company.

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