Tronox (NYSE:TROX) Sets New 12-Month Low – Here’s Why

Tronox Holdings plc (NYSE:TROX)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $6.59 and last traded at $6.71, with a volume of 248232 shares. The stock had previously closed at $7.04.

Analyst Upgrades and Downgrades

Several research firms have commented on TROX. Morgan Stanley lowered their price objective on Tronox from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho cut their price objective on shares of Tronox from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Truist Financial lowered their target price on shares of Tronox from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their price target on Tronox from $13.00 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price target on Tronox from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.50.

Tronox Price Performance

The stock’s 50-day moving average price is $8.38 and its 200 day moving average price is $10.65. The company has a quick ratio of 0.90, a current ratio of 2.47 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -21.89 and a beta of 1.64.

Tronox (NYSE:TROX) last released its earnings results on Wednesday, February 12th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). Tronox had a negative return on equity of 0.63% and a negative net margin of 1.56%. Equities research analysts expect that Tronox Holdings plc will post 0.49 earnings per share for the current fiscal year.

Tronox Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.50 annualized dividend and a dividend yield of 7.37%. Tronox’s payout ratio is -161.29%.

Insider Buying and Selling

In other Tronox news, Director Stephen J. Jones acquired 30,000 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was bought at an average cost of $7.17 per share, for a total transaction of $215,100.00. Following the completion of the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $215,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by company insiders.

Institutional Trading of Tronox

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in shares of Tronox by 832.6% in the 4th quarter. Sterling Capital Management LLC now owns 3,805 shares of the company’s stock valued at $38,000 after acquiring an additional 3,397 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Tronox in the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of Tronox by 34.6% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,548 shares of the company’s stock worth $96,000 after buying an additional 1,683 shares during the period. KBC Group NV grew its stake in shares of Tronox by 59.4% in the fourth quarter. KBC Group NV now owns 6,949 shares of the company’s stock valued at $70,000 after buying an additional 2,590 shares in the last quarter. Finally, Mariner LLC purchased a new stake in shares of Tronox in the 4th quarter valued at $105,000. 73.36% of the stock is currently owned by hedge funds and other institutional investors.

About Tronox

Tronox Holdings plc operates as a vertically integrated manufacturer of TiO2 pigment in North America, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates titanium-bearing mineral sand mines; and engages in beneficiation and smelting operations. It offers TiO2 pigment; ultrafine specialty TiO2; zircon; feedstock; pig iron; monazite; titanium tetrachloride; and other products.