Tronox (NYSE:TROX) Announces Earnings Results

Tronox (NYSE:TROX) posted its quarterly earnings data on Wednesday. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.26), Zacks reports. Tronox had a negative return on equity of 8.10% and a negative net margin of 11.39%.

Tronox Trading Up 2.1%

Shares of NYSE TROX traded up $0.16 during trading hours on Wednesday, hitting $7.76. 7,104,870 shares of the company traded hands, compared to its average volume of 3,965,266. The company’s 50 day moving average price is $5.70 and its 200 day moving average price is $4.52. Tronox has a 12 month low of $2.86 and a 12 month high of $8.80. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.78 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 0.73 and a debt-to-equity ratio of 1.97.

Tronox Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Monday, February 23rd will be issued a $0.05 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.6%. Tronox’s payout ratio is -9.76%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group boosted their price objective on Tronox from $5.50 to $7.50 and gave the company a “buy” rating in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $8.00 price target on shares of Tronox in a report on Tuesday, January 27th. Truist Financial increased their price objective on shares of Tronox from $7.00 to $8.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Mizuho lifted their price objective on shares of Tronox from $3.00 to $3.50 and gave the company an “underperform” rating in a research report on Wednesday, December 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Tronox in a research report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.03.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its position in Tronox by 2.5% during the fourth quarter. Osaic Holdings Inc. now owns 60,004 shares of the company’s stock worth $250,000 after buying an additional 1,480 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Tronox by 27.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,576 shares of the company’s stock worth $48,000 after purchasing an additional 2,496 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Tronox by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,574 shares of the company’s stock valued at $497,000 after purchasing an additional 3,042 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Tronox by 38.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 13,619 shares of the company’s stock valued at $55,000 after purchasing an additional 3,775 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Tronox by 4.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 118,066 shares of the company’s stock valued at $493,000 after purchasing an additional 4,876 shares in the last quarter. Institutional investors own 73.36% of the company’s stock.

Tronox Company Profile

Tronox Holdings plc is a vertically integrated global producer of titanium dioxide (TiO?) pigment and specialty materials. The company’s operations encompass the full supply chain for TiO?, from mining and processing titanium-bearing ores—such as ilmenite and rutile—to the production of high-purity pigment for use in paints, coatings, plastics, paper and other industrial applications. In addition to TiO?, Tronox’s product portfolio includes zircon, rare earth byproducts and other specialty minerals that serve a range of industrial markets.

Tronox operates a network of mines, processing facilities and pigment plants located across North America, Europe, the Middle East, Australia and South Africa.